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Inventories

9 Months Ended

Apr. 30, 2013

4.	Inventories

Major classifications of inventories are:


	April 30, 2013		July 31, 2012
Raw materials	$	125,702	$	104,446
Chassis		47,347		39,044
Work in process		66,723		59,803
Finished goods		31,613		16,570

Total		271,385		219,863
Excess of FIFO costs over LIFO costs		(35,205)		(33,780)

Total inventories	$	236,180	$	186,083

Of the $271,385 and $219,863 of inventory at April 30, 2013 and July 31, 2012, all but $27,011 and $36,887, respectively, at certain subsidiaries were valued on a last-in, first-out basis. The $27,011 and $36,887 of inventory were valued on a first-in, first-out method.

- 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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