Note 4 - Inventories

9 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Inventory Disclosure [Text Block]

Note

4:

   Inventories

Inventories consist of the following (in thousands):

	3/31/2017			6/30/2016
Raw material and supplies	$	26,919		$	29,209
Goods in process and finished parts		17,356			16,459
Finished goods		41,220			39,449
		85,495			85,117
LIFO Reserve		(27,270	)		(28,796	)
Inventories	$	58,225		$	56,321

LIFO inventories were

$7.2

million and

$10.5

million at

March

31,

2017

and

June

30,

2016,

respectively, such amounts being approximately

$27.3

million and

$28.8

million, respectively, less than if determined on a FIFO basis.  The use of LIFO, as compared to FIFO, resulted in a

$1.5

million decrease in cost of sales for the

nine

months ended

March

31,

2017

compared to a

$0.3

million increase for the

nine

months ended

March

31,

2016.