Inventories

3 Months Ended

Sep. 30, 2021

InventoriesInventories consist of the following (in thousands):


	9/30/2021		6/30/2021
Raw material and supplies	$	29,123	$	29,271
Goods in process and finished parts	15,863		16,096
Finished goods	36,613		37,344
	81,599		82,711
LIFO Reserve	(20,401)		(22,139)
	$	61,198	$	60,572

Of the Company’s $61.2 million and $60.6 million total inventory at September 30, 2021 and June 30, 2021, respectively, the $20.4 million and $22.1 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 $27.3 million on a FIFO basis and $6.9 million on a LIFO basis at September 30, 2021. 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, 2020. The use of LIFO, as compared to FIFO, resulted in a $1.7 million increase in cost of sales for the goods sold in the period ending September 30, 2021 compared to $0.5 million increase in the three months ending September 30, 2020.