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Inventories

12 Months Ended

Sep. 30, 2014

Inventories at September 30 consist of:



	2014		2013
Raw materials and supplies	$	5,957	$	5,906
Work-in-process	6,232		7,049
Finished goods	6,730		5,385
Total inventories	$	18,919	$	18,340

If the FIFO method had been used for the entire Company, inventories would have been $7,879 and $7,977 higher than reported at September 30, 2014 and 2013, respectively. LIFO income was $98 and $1,560 in fiscal 2014 and fiscal 2013, and LIFO expense was $1,563 in fiscal 2012.

During fiscal 2013, a reduction in total inventory resulted in a liquidation of LIFO inventory quantities valued at the lower costs of prior years. The LIFO liquidation decreased cost of goods sold in fiscal 2013 by approximately $1,300.

- 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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