Inventories

Inventories consist of paper stock, editorial content, and books. Of total net inventory values, 65 percent at June 30, 2017, and 54 percent at June 30, 2016, were determined using the LIFO method. LIFO inventory income included in the Consolidated Statements of Earnings was $1.7 million in fiscal 2017, $0.7 million in fiscal 2016, and $0.5 million in fiscal 2015.



June 30,	2017			2016
(In thousands)
Raw materials	$	13,404		$	11,698
Work in process	8,665			10,107
Finished goods	1,111			1,834
	23,180			23,639
Reserve for LIFO cost valuation	(1,290		)	(2,961		)
Inventories	$	21,890		$	20,678