Inventories

9 Months Ended

Mar. 31, 2023

Inventories consist of the following (in thousands):


	03/31/2023		06/30/2022
Raw material and supplies	$	36,757	$	35,752
Goods in process and finished parts	22,218		22,268
Finished goods	35,036		35,589
	94,011		93,609
LIFO Reserve	(26,326)		(26,709)
	$	67,685	$	66,900

Of the Company’s $67.7 million and $66.9 million total inventory at March 31, 2023 and June 30, 2022, respectively, the $26.3 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 $40.1 million on a FIFO basis and $13.8 million on a LIFO basis at March 31, 2023. 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 a $0.4 million decrease in cost of sales for the goods sold in the nine months ended March 31, 2023 compared to $4.3 million increase in the nine months ended March 31, 2022.