Inventories

6 Months Ended

Dec. 31, 2023

Inventories consist of the following (in thousands):


	12/31/2023		06/30/2023
Raw material and supplies	$	34,700	$	36,402
Goods in process and finished parts	19,940		20,978
Finished goods	33,042		34,414
	87,682		91,794
LIFO Reserve	(26,398)		(26,380)
	$	61,284	$	65,414

Of the Company’s $61.3 million and $65.4 million total inventory at December 31, 2023 and June 30, 2023, respectively, the $26.4 million and $26.4 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 $38.4 million on a FIFO basis and $12.0 million on a LIFO basis at December 31, 2023. 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 use of LIFO, as compared to FIFO, resulted in, during the three months and six months ended December 31, 2023, a $0.1 million increase and no increase in cost of sales as compared to a $0.1 million increase and a $0.6 million decrease in the three and six months ended December 31, 2022.