Inventories

The components of inventories were:



	July 31,			April 30,
(in thousands)	2015			2015
Raw materials	$	17,530		$	17,199
Work-in-process	18,296			18,095
Finished goods	15,451			14,797

Total FIFO inventories	51,277			50,091

Reserve to adjust inventories to LIFO value	(14,273		)	(14,103		)

Total LIFO inventories	$	37,004		$	35,988

Interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and costs. Since these items are estimated, interim results are subject to the final year-end LIFO inventory valuation.