Note 4 - Inventories

9 Months Ended

Dec. 28, 2019

4 .	Inventories

First-In, First-Out (“FIFO”) based inventory costs exceeded LIFO based inventory costs by

$153,884,000

as of the end of the

third

quarter of fiscal

2020

as compared to

$160,727,000

as of the end of the

third

quarter of fiscal

2019.

The change in the LIFO Reserve for the

three

months ended

December 28, 2019

was a decrease of

$11,337,000

as compared to an increase of

$25,776,000

for the

three

months ended

December 29, 2018.

The change in the LIFO Reserve for the

nine

months ended

December 28, 2019

was a decrease of

$7,457,000

as compared to an increase of

$15,722,000

for the

nine

months ended

December 29, 2018.

The prior year-to-date decrease includes a decrease of

$24,211,000

related to the LIFO impact of gain on sale of Modesto Fruit which is included in Other Operating Income under Discontinued Operations. The

$15,722,000

also includes an increase of

$39,933,000

related to Continuing Operations included in Cost of Product Sold. This reflects the projected impact of the disposal of Modesto Fruit partially offset by an overall cost increase expected in fiscal

2020

versus fiscal

2019.

	December 28, 2019		December 29, 2018		March 31, 2019
In Thousands

Finished products	$	465,306	$	557,652	$	454,920
In process		34,685		41,100		42,045
Raw materials and supplies		146,958		137,910		166,060
		646,949		736,662		663,025
Less excess of FIFO cost over LIFO cost		153,884		160,727		161,341
Total inventories	$	493,065	$	575,935	$	501,684