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Inventories

6 Months Ended

Dec. 31, 2013

Note 4 – Inventories

Inventories consist of the following:


	December 31, 2013		June 30, 2013
Finished goods	$	304,659	$	234,770
Work in process		88,243		92,640
Raw materials		263,005		222,421

Inventories	$	655,907	$	549,831

At December 31, 2013 and June 30, 2013, our inventory reserves were $81.9 million and $72.9 million, respectively.

- 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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