INVENTORIES

12 Months Ended

Jun. 30, 2023

Inventories consist of the following (in thousands):


	6/30/2023		6/30/2022
Raw materials and supplies	$	36,402	$	35,752
Goods in process and finished parts	20,978		22,268
Finished goods	34,414		35,589
	91,794		93,609
LIFO reserve	(26,380)		(26,709)
	$	65,414	$	66,900

Of the Company’s $65.4 million and $66.9 million total inventory at June 30, 2023 and 2022, respectively, the $26.4 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 had total Inventory, on a FIFO basis, of $38.1 million and $11.7 million on a LIFO basis as of June 30, 2023. The Core U.S. business total inventory was $39.3 million on a FIFO basis and $12.6 million on a LIFO basis at 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 fiscal 2023 compared to a $4.6 million decrease in fiscal 2022.