Inventories

Inventories consist of paper stock, editorial content, and books. Of total net inventory values, 54 percent at June 30, 2016, and 52 percent at June 30, 2015, were determined using the LIFO method. LIFO inventory income included in the Consolidated Statements of Earnings was $0.7 million in fiscal 2016, $0.5 million in fiscal 2015, and $0.8 million in fiscal 2014.



June 30,	2016			2015
(In thousands)
Raw materials	$	11,698		$	13,900
Work in process	10,107			12,053
Finished goods	1,834			2,428
	23,639			28,381
Reserve for LIFO cost valuation	(2,961		)	(3,700		)
Inventories	$	20,678		$	24,681