6.	Inventories

Inventories consist of the following (in thousands):

	March 31, 2016			September 30, 2015
Finished goods	$	46,245		$	55,074
Work in process		2,872			5,632
Raw material		74,380			70,769
Obsolescence reserve		(9,366	)		(6,675	)
	$	114,131		$	124,800

During the six months ended March 31, 2016 and 2015, the Company made non-cash inventory transfers of $1.7 million and $0.1 million, respectively, to its rental equipment fleet. Raw materials include semi-finished goods and component parts totaling $52.3 million and $48.4 million, respectively, at March 31, 2016 and September 30, 2015.