INVENTORIES, NET

9 Months Ended

May 31, 2022

Inventory Disclosure [Abstract]

Inventories, net

NOTE 6. INVENTORIES, NET

The majority of the Company's inventories are in the form of semi-finished and finished steel products. Under the Company’s vertically integrated business model, steel products are sold to external customers in various stages, from semi-finished billets through fabricated steel, leading these categories to be combined as finished goods.

The components of inventories were as follows:

(in thousands)	May 31, 2022		August 31, 2021
Raw materials	$	391,208	$	286,123
Work in process	9,488		6,881
Finished goods	945,590		642,383
Total	$	1,346,286	$	935,387