Inventories

12 Months Ended

Jun. 30, 2012

Inventories

Inventories

5.Inventories

	June 30,
($ in millions)	2012		2011
Raw materials and supplies	$	114.1	$	63.3
Work in process	312.4		171.9
Finished and purchased products	215.5		93.4
Total inventory	$	642.0	$	328.6

If the first-in, first-out method of inventory had been used instead of the LIFO method, inventories would have been $279.8 million and $355.4 million higher as of June 30, 2012 and 2011, respectively.  Current cost of LIFO-valued inventories was $759.7 million at June 30, 2012 and $599.3 million at June 30, 2011.  The reductions in LIFO-valued inventories decreased cost of sales by $0 million during fiscal year 2012, $1.7 million during fiscal year 2011, and $7.0 million during fiscal year 2010.