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Inventories

6 Months Ended

Jan. 31, 2015

6.	Inventories

Major classifications of inventories are:


	January 31, 2015			July 31, 2014
Raw materials	$	131,915		$	122,150
Chassis		51,947			45,231
Work in process		51,411			49,537
Finished goods		38,067			27,424

Total		273,340			244,342
Excess of FIFO costs over LIFO costs		(28,923	)		(27,988	)

Total inventories	$	244,417		$	216,354

Of the $273,340 and $244,342 of inventories at January 31, 2015 and July 31, 2014, all but $51,588 and $36,096, respectively, at certain subsidiaries were valued on a last-in, first-out basis. The $51,588 and $36,096 of inventories 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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