Inventories

6 Months Ended

Dec. 31, 2022

Inventories consist of the following (in thousands):


	12/31/2022		06/30/2022
Raw material and supplies	$	38,002	$	35,752
Goods in process and finished parts	22,007		22,268
Finished goods	36,198		35,589
	96,207		93,609
LIFO Reserve	(26,119)		(26,709)
	$	70,088	$	66,900

Of the Company’s $70.1 million and $66.9 million total inventory at December 31, 2022 and June 30, 2022, respectively, the $26.1 million and $26.7 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 $41.4 million on a FIFO basis and $15.3 million on a LIFO basis at December 31, 2022. The Core U.S. business had total inventory, on a FIFO basis, of $39.3 million and $12.6 million on a LIFO basis as of June 30, 2022. The use of LIFO, as compared to FIFO, resulted in, during the three months and six months ended December 31, 2022, a $0.1 million increase and $0.6 million decrease in cost of sales as compared to a $0.9 million increase and a $0.9 million decrease in the three and six months ended December 31, 2021.