Inventories

9 Months Ended

Mar. 31, 2022

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consist of the following (in thousands):

	03/31/2022		06/30/2021
Raw material and supplies	$	36,064	$	29,271
Goods in process and finished parts	21,627		16,096
Finished goods	41,752		37,344
	99,443		82,711
LIFO Reserve	(26,368)		(22,139)
	$	73,075	$	60,572

Of the Company’s $73.1 million and $60.6 million total inventory at March 31, 2022 and June 30, 2021, respectively, the $26.4 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 $37.5 million on a FIFO basis and $11.2 million on a LIFO basis at March 31, 2022. The Core U.S. business had total Inventory, on a FIFO basis, of $27.9 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 $4.3 million increase in cost of sales for the goods sold in the period ending March 31, 2022 compared to $0.4 million increase in the nine months ended March 31, 2021.