Inventories

9 Months Ended

Mar. 31, 2024

Inventories consist of the following (in thousands):


	03/31/2024		06/30/2023
Raw material and supplies	$	34,779	$	36,402
Goods in process and finished parts	21,298		20,978
Finished goods	32,534		34,414
	88,611		91,794
LIFO Reserve	(30,093)		(26,380)
	$	58,518	$	65,414

Of the Company’s $58.5 million and $65.4 million total inventory at March 31, 2024 and June 30, 2023, respectively, the $30.1 million and $26.4 million LIFO reserves belong to the U.S. Precision Tools and Saws Manufacturing “Precision Tools.” business. The Precision Tools business total inventory was $40.5 million on a FIFO basis and $10.4 million on a LIFO basis at March 31, 2024. The Precision Tools 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, during the nine months ended March 31, 2024 resulted in a $3.8 million increase in the cost of goods sold in the nine months ended March 31, 2024 compared to a $0.4 million decrease in the nine months ended March 31, 2023.