Inventories

6 Months Ended

Dec. 31, 2020

Inventories consist of the following (in thousands):


	12/31/2020		06/30/2020
Raw material and supplies	$	30,738	$	26,255
Goods in process and finished parts	13,035		13,694
Finished goods	32,208		37,579
	75,981		77,528
LIFO Reserve	(24,959)		(24,541)
	$	51,022	$	52,987

Of the Company’s $51.0 million and $53.0 million total inventory at December 31, 2020 and June 30, 2020, respectively, the $25.0 million and $24.5 million LIFO reserves belong to the U.S. Precision Tools and Saws Manufacturing “Core U.S.” business. The Core U.S. business total inventory was $29.8 million on a FIFO basis and $4.8 million on a LIFO basis at December 31, 2020. The Core U.S. business had total Inventory, on a FIFO basis, of $33.1 million and $8.6 million on a LIFO basis as of June 30, 2020. The use of LIFO, as compared to FIFO, resulted in a $0.1 million increase in cost of sales for the goods sold in the period ending December 31, 2020 compared to $0.4 million in the six months ending December 31, 2019.