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Inventories

12 Months Ended

Apr. 30, 2014

Note C -- Inventories

The components of inventories were:


		APRIL 30
(in thousands)		2014		2013
Raw materials	$	13,756	$	11,823
Work-in-process		19,179		17,170
Finished goods		13,439		11,318

Total FIFO inventories		46,374		40,311
Reserve to adjust inventories to LIFO value		(14,851)		(10,973)

Total LIFO inventories	$	31,523	$	29,338

There was no liquidation of LIFO based inventories in fiscal 2014 and 2013 to impact net income. After tax losses were impacted by $125,000 in fiscal year 2012 as a result of liquidation of LIFO based inventories.

- 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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