Inventories

9 Months Ended

Mar. 31, 2021

Inventories consist of the following (in thousands):


	3/31/2021		6/30/2020
Raw material and supplies	$	29,149	$	26,255
Goods in process and finished parts	13,673		13,694
Finished goods	34,087		37,579
	76,909		77,528
LIFO Reserve	(24,373)		(24,541)
	$	52,536	$	52,987

Of the Company’s $52.5 million and $53.0 million total inventory at March 31, 2021 and June 30, 2020, respectively, the $24.4 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 $27.9 million on a FIFO basis and $3.5 million on a LIFO basis at March 31, 2021. 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 $0.5 million decrease in cost of sales for the goods sold in the nine months ending March 31, 2021 compared to $0.3 million increase in the nine months ending March 31, 2020.