Inventories

6 Months Ended

Dec. 31, 2021

Inventories consist of the following (in thousands):


	12/31/2021		06/30/2021
Raw material and supplies	$	30,687	$	29,271
Goods in process and finished parts	16,592		16,096
Finished goods	37,853		37,344
	85,132		82,711
LIFO Reserve	(21,258)		(22,139)
	$	63,874	$	60,572

Of the Company’s $63.9 million and $60.6 million total inventory at December 31, 2021 and June 30, 2021, respectively, the $21.3 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 $30.2 million on a FIFO basis and $8.9 million on a LIFO basis at December 31, 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, 2021. The use of LIFO, as compared to FIFO, resulted in a $0.1 million decrease in cost of sales for the goods sold in the period ending December 31, 2021 compared to $0.4 million in the six months ending December 31, 2020.