Inventories

12 Months Ended

Feb. 29, 2020

Inventory Disclosure [Abstract]

Inventories

(4) Inventories

The following table summarizes the components of inventories at the different stages of production as of February 29, 2020 and February 28, 2019 (in thousands):

	2020		2019
Raw material	$	20,267	$	21,717
Work-in-process		4,557		4,172
Finished goods		10,011		9,522
	$	34,835	$	35,411

The excess of current costs at FIFO over LIFO stated values was approximately $4.9 million and $5.0 million as of fiscal years ended 2020 and 2019, respectively.  During both fiscal year 2020 and 2019, as inventory quantities were reduced, this resulted in a liquidation of LIFO inventory quantities carried at lower costs prevailing in prior years compared with the cost of fiscal year 2019 and 2018, as applicable.  The effect decreased cost of sales by approximately $0.1 million, $0.1 million and $0.3 million for fiscal years 2020, 2019 and 2018, respectively.  Cost includes materials, labor and overhead related to the purchase and production of inventories.