Note 4 - Inventory

3 Months Ended

Sep. 30, 2011

Note 4: Inventories

Inventories consist of the following (in thousands):

	September 30, 2011			June 30, 2011
Raw Material and Supplies	$	31,799		$	31,928
Goods in Process and Finished Parts		23,947			23,938
Finished Goods		31,461			29,096
		87,207			84,962
LIFO Reserve		(26,760	)		(26,173	)
Inventories	$	60,447		$	58,789

LIFO inventories were $16.0 million and $15.4 million at September 30, 2011 and June 30, 2011, respectively, such amounts being approximately $26.8 million and $26.2 million, respectively, less than if determined on a FIFO basis. The use of LIFO, as compared to FIFO, resulted in a $0.6 million increase in cost of sales for the three months ended September 30, 2011 compared to a $0.3 million reduction in cost of sales in the three months ended September 25, 2010.