Inventories

12 Months Ended

Mar. 31, 2022

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consisted of the following:

	March 31,
	2022		2021
At cost—FIFO basis:
Raw materials	$	129,015	$	79,981
Work-in-process	28,093		23,067
Finished goods	36,661		27,201
	193,769		130,249
LIFO cost less than FIFO cost	(21,630)		(18,761)
Net inventories	$	172,139	$	111,488

The acquisitions of Dorner and Garvey contributed $19,941,000 and $4,470,000, respectively, to the increase in inventory since March 31, 2021.

There were LIFO liquidations resulting in $620,000 and $1,640,000 of additional income in fiscal 2022 and 2021, respectively.