Inventories (Tables)

12 Months Ended

Apr. 30, 2017

Inventories at April 30 were as follows (in thousands):

	2017	2016
Finished Goods	$38,329	$45,170
Work-in-Process	7,078	7,592
Paper and Other Materials	650	4,867
	46,057	57,629
Inventory Value of Estimated Sales Returns	4,727	4,924
LIFO Reserve	(2,932)	(4,774)
Total Inventories	$47,852	$57,779

See Note 2, Summary of Significant Accounting Policies - Sales Return Reserves for a discussion of the Inventory Value of Estimated Sales Returns. Finished Goods are net of a reserve for inventory obsolescence of $21.1 million and $22.0 million as of April 30, 2017 and 2016, respectively. During fiscal year 2017, the Company outsourced the majority of its paper inventory management to third party printers which drove the decline in Paper, Cloth and Other above.