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Inventories

12 Months Ended

Aug. 25, 2012

Inventories consist of the following:



(In thousands)	August 25, 2012			August 27, 2011
Finished goods	$	30,054		$	29,656
Work-in-process	45,240			31,966
Raw materials	42,824			39,180
Total	118,118			100,802
LIFO reserve	(31,024		)	(31,637		)
Total inventories	$	87,094		$	69,165

The above value of inventories, before reduction for the LIFO reserve, approximates replacement cost at the respective dates. Of the $118.1 million inventory at August 25, 2012, $110.1 million is valued on a LIFO basis and the Towables inventory of $8.0 million is valued on a FIFO basis. Of the $100.8 million inventory at August 27, 2011, $94.3 million is valued on a LIFO basis and the Towables inventory of $6.5 million is valued on a FIFO basis.

Based on decreases in inflation rates partially offset by an increase in inventories during Fiscal 2012, we recorded a reduction to LIFO reserves of $613,000.

- 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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