Inventories

9 Months Ended

Dec. 29, 2019

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories at December 29, 2019 and March 31, 2019 consisted of the following:

	December 29, 2019		March 31, 2019
(In thousands)
Inventory (FIFO basis)	$	61,976	$	65,526
LIFO reserve	(4,434)		(5,044)
Net inventory	$	57,542	$	60,482

The first in, first out (“FIFO”) value of inventories accounted for under the last in, first out (“LIFO”) method was $43.7 million at December 29, 2019 and $45.2 million at March 31, 2019. The remainder of the inventory was valued and accounted for under the FIFO method.

The LIFO reserve decreased $0.3 million during the three months ended December 29, 2019 and decreased $0.5 million during the three months ended December 30, 2018. During the nine months ended December 29, 2019, the LIFO reserve decreased $0.6 million and decreased nominally during the nine months ended December 30, 2018. The valuation of LIFO inventory for interim periods is based on our estimates of year-end inventory levels and costs.