Inventories

6 Months Ended

Feb. 29, 2020

Inventory Disclosure [Abstract]

Inventories

Note 4 – Inventories

Inventories are valued at the lower of cost or net realizable value using the first-in first-out method. Work-in-process includes material, labor and overhead. Finished goods includes completed wheels, parts and railcars not on lease or in transit. The following table summarizes the Company’s inventory balance:

(In thousands)	February 29, 2020			August 31, 2019
Manufacturing supplies and raw materials	$	352,291		$	387,015
Work-in-process		161,616			156,614
Finished goods		206,035			130,576
Excess and obsolete adjustment		(10,827	)		(9,512	)
	$	709,115		$	664,693