Inventories (Tables)

3 Months Ended

Nov. 30, 2020

Inventories include materials, labor, inbound freight, and related manufacturing overhead, are stated at the lower of cost (on a first-in, first-out or average cost basis) and net realizable value, and consist of the following as of the dates presented (in millions):


	November 30, 2020		August 31, 2020
Raw materials, supplies, and work in process (1)	$	161.4	$	170.3
Finished goods	196.4		199.1
Inventories excluding reserves	357.8		369.4
Less: Reserves	(41.7)		(49.3)
Total inventories	$	316.1	$	320.1

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(1) Due to the immaterial amount of estimated work in process and the short lead times for the conversion of raw materials to finished goods, we do not believe the segregation of raw materials and work in process is meaningful information.