Inventories

6 Months Ended

Apr. 29, 2011

Inventories

Inventories

Inventories

Inventories are valued at the lower of cost or net realizable value, with cost determined by the last-in, first-out (“LIFO”) method for most inventories and first-in, first-out (“FIFO”) method for all other inventories. The company establishes a reserve for excess, slow-moving, and obsolete inventory that is equal to the difference between the cost and estimated net realizable value for that inventory. These reserves are based on a review and comparison of current inventory levels to the planned production, as well as planned and historical sales of the inventory.

Inventories were as follows:

	April 29,		April 30,		October 31,
(Dollars in thousands)	2011		2010		2010
Raw materials and work in process	$	75,964	$	67,277	$	66,152
Finished goods and service parts	239,604		157,272		183,992
Total FIFO value	315,568		224,549		250,144
Less: adjustment to LIFO value	55,742		50,143		55,742
Total	$	259,826	$	174,406	$	194,402