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Inventories

6 Months Ended

Jan. 31, 2013

4.	Inventories

Major classifications of inventories are:


	January 31, 2013		July 31, 2012
Raw materials	$	122,455	$	104,446
Chassis		50,066		39,044
Work in process		72,189		59,803
Finished goods		24,786		16,570

Total		269,496		219,863
Excess of FIFO costs over LIFO costs		(34,380)		(33,780)

Total inventories	$	235,116	$	186,083

Of the $269,496 and $219,863 of inventory at January 31, 2013 and July 31, 2012, all but $40,887 and $36,887, respectively, at certain subsidiaries were valued on a last-in, first-out basis. The $40,887 and $36,887 of inventory were valued on a first-in, first-out method.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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