Note 4 - Inventories

9 Months Ended

Mar. 31, 2016

Note 4:

Inventories

Inventories consist of the following (in thousands):

	3/31/2016			6/30/2015
	(Unaudited)
Raw material and supplies	$	30,632		$	32,784
Goods in process and finished parts		16,493			18,569
Finished goods		38,885			39,689
		86,010			91,042
LIFO Reserve		(28,347	)		(28,039	)
Inventories	$	57,663		$	63,003

LIFO inventories were $10.7 million and $14.6 million at March 31, 2016 and June 30, 2015, respectively, such amounts being approximately $28.3 million and $28.0 million, respectively, less than if determined on a FIFO basis. The use of LIFO, as compared to FIFO, resulted in a $0.3 million increase in cost of sales for the nine months ended March 31, 2016 compared to a $0.2 million increase for the nine months ended March 31, 2015.