Inventories

12 Months Ended

Feb. 28, 2021

Inventory Disclosure [Abstract]

Inventories

(4) Inventories

The following table summarizes the components of inventories at the different stages of production as of February 28, 2021 and February 29, 2020 (in thousands):

	2021		2020
Raw material	$	19,699	$	20,267
Work-in-process		3,762		4,557
Finished goods		9,445		10,011
	$	32,906	$	34,835

The excess of current costs at FIFO over LIFO stated values was approximately $4.6 million and $4.9 million as of fiscal years ended 2021 and 2020, respectively.  During both fiscal year 2021 and 2020, 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 2020 and 2019, as applicable.  The effect decreased cost of sales by approximately $0.1 million, $0.1 million and $0.1 million for fiscal years 2021, 2020 and 2019, respectively.  Cost includes materials, labor and overhead related to the purchase and production of inventories.