INVENTORIES

12 Months Ended

Jun. 30, 2021

Inventories consist of the following (in thousands):


	6/30/2021		6/30/2020
Raw materials and supplies	$	29,271	$	26,255
Goods in process and finished parts	16,096		13,694
Finished goods	37,344		37,579
	82,711		77,528
LIFO reserve	(22,139)		(24,541)
	$	60,572	$	52,987

Of the Company’s $60.6 million and $53.0 million total inventory at June 30, 2021 and 2020, respectively, the $22.1 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 had total Inventory, on a FIFO basis, of $27.8 million and $5.7 million on a LIFO basis as of June 30, 2021. The Core U.S. business total inventory was $33.1 million on a FIFO basis and $8.6 million on a LIFO basis at June 30, 2020. The use of LIFO, as compared to FIFO, resulted in a $2.4 million decrease in cost of sales for the goods sold in fiscal 2021 compared to a $1.3 million increase in fiscal 2020.