Inventories (Tables)

3 Months Ended

Nov. 30, 2022

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories consisted of the following as of November 30, 2022, November 30, 2021, and August 31, 2022:

($ in thousands)	November 30, 2022			November 30, 2021			August 31, 2022
Raw materials and supplies	$	96,811		$	78,102		$	93,469
Work in process		12,326			12,227			12,603
Finished goods and purchased parts, net		103,400			90,676			110,022
Total inventory value before LIFO adjustment		212,537			181,005			216,094
Less adjustment to LIFO value		(24,133	)		(7,890	)		(22,318	)
Inventories, net	$	188,404		$	173,115		$	193,776

Of the $188.4 million, $173.1 million, and $193.8 million of net inventories at November 30, 2022, November 30, 2021, and August 31, 2022, $52.9 million, $50.5 million, and $55.5 million, respectively, was valued on the last-in, first-out ("LIFO")

basis, and $135.5 million, $122.7 million, and $138.3 million, respectively, was valued on the first-in, first-out ("FIFO") or average cost methods.