Inventories (Tables)

6 Months Ended

Feb. 28, 2019

Components of Inventories

Inventories are valued at the lower of cost (first-in, first-out) or market. Work-in-process includes material, labor and overhead. The following table summarizes the Company’s inventory balance:

(In thousands)	February 28, 2019			August 31, 2018
Manufacturing supplies and raw materials	$	337,957		$	278,726
Work-in-process		142,290			105,021
Finished goods		100,314			54,181
Excess and obsolete adjustment		(6,415	)		(5,614	)
	$	574,146		$	432,314