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Inventories

9 Months Ended

Apr. 30, 2015

6.	Inventories

Major classifications of inventories are:


	April 30, 2015			July 31, 2014
Raw materials	$	136,492		$	122,150
Chassis		44,096			45,231
Work in process		55,277			49,537
Finished goods		50,564			27,424

Total		286,429			244,342
Excess of FIFO costs over LIFO costs		(29,873	)		(27,988	)

Total inventories	$	256,556		$	216,354

Of the $286,429 and $244,342 of inventories at April 30, 2015 and July 31, 2014, all but $55,826 and $36,096, respectively, at certain subsidiaries were valued on a last-in, first-out basis. The $55,826 and $36,096 of inventories 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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