Inventories

The components of inventories were:



	July 31,			April 30,
(in thousands)	2017			2017
Raw materials	$	20,195		$	18,230
Work-in-process	18,283			18,704
Finished goods	19,446			19,372

Total FIFO inventories	57,924			56,306

Reserve to adjust inventories to LIFO value	(13,447		)	(13,447		)

Total LIFO inventories	$	44,477		$	42,859

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.