Note 6 - Inventories

9 Months Ended

Mar. 25, 2012

6. Inventories

Inventories consist of the following:

	March 25, 2012			June 26, 2011
Raw materials	$	44,855		$	52,387
Supplies		5,355			6,016
Work in process		7,294			7,000
Finished goods		57,657			74,399
Gross inventories		115,161			139,802
Inventory reserves		(2,744	)		(4,919	)
Total inventories	$	112,417		$	134,883

The cost for the majority of the Company’s inventories are determined using the first-in, first-out method, while certain foreign inventories of $31,794 and $43,734 as of March 25, 2012 and June 26, 2011, respectively, were valued under the average cost method. The change in these foreign inventories from the beginning of the year was due to declining raw material costs, lower quantities on-hand, as well as the weakening of the Brazilian Real versus the U.S. dollar. Consigned goods were $129 and $164 as of March 25, 2012 and June 26, 2011, respectively, which are located in El Salvador.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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