Inventories

Inventories consist of the following at:



	October 31, 2019		July 31, 2019
Raw materials and components	$	52,423,000	53,959,000
Work-in-process and finished goods	38,867,000		40,576,000
Total inventories	91,290,000		94,535,000
Less reserve for excess and obsolete inventories	19,480,000		19,696,000
Inventories, net	$	71,810,000	74,839,000

As of October 31, 2019 and July 31, 2019, the amount of inventory directly related to long-term contracts (including contracts-in-progress) was $4,661,000 and $4,053,000, respectively, and the amount of inventory related to contracts from third-party commercial customers who outsource their manufacturing to us was $1,395,000 and $1,513,000, respectively.