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Inventories

6 Months Ended

Dec. 31, 2011

Inventories

Major components of inventories are summarized below. Of total net inventory values shown, 46 percent are under the last-in first-out (LIFO) method at December 31, 2011, and 46 percent at June 30, 2011.



(In thousands)	December 31, 2011			June 30, 2011
Raw materials	$	13,363		$	15,633
Work in process	12,578			11,723
Finished goods	2,531			1,609
	28,472			28,965
Reserve for LIFO cost valuation	(7,365		)	(7,436		)
Inventories	$	21,107		$	21,529

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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