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Inventories
9 Months Ended
Mar. 31, 2023
Inventory Disclosure [Abstract]  
Inventories InventoriesInventory components were as follows:
(Amounts in Thousands)March 31,
2023
June 30,
2022
Finished products$63,272 $66,890 
Work-in-process1,562 1,974 
Raw materials47,887 52,878 
Total FIFO inventory112,721 121,742 
LIFO reserve(23,088)(23,773)
Total inventory$89,633 $97,969 
For interim reporting, LIFO inventories are computed based on quantities as of the end of the quarter and interim changes in price levels. Changes in quantities and price levels are reflected in the interim financial statements in the period in which they occur, except in cases where LIFO inventory liquidations are expected to be reinstated by fiscal year end. LIFO impact including the effect of changes in quantities, price levels, and inventory liquidations during the three and nine-month periods ended March 31, 2023 were income of $0.4 million and $0.7 million, respectively and during the three and nine-month periods ended March 31, 2022 were expense of $1.6 million and $5.3 million, respectively. The earnings impact of LIFO inventory liquidations during the three and nine-month periods ended March 31, 2023 were income of $1.4 million and $1.6 million, respectively and during the three and nine-month periods ended March 31, 2022 were income of $1.6 million which was more than offset by LIFO expense resulting from inflation.