Note 4 - Inventories

9 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Inventory Disclosure [Text Block]

Note

4:

   Inventories

ASU

No.

2015

-

11,

"Inventory (Topic

330

): Simplifying the Measurement of Inventory", specifies that when an entity measures inventory at the lower of cost or market that “market” is defined as “net realizable value,” or the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The adoption of ASU

No.

2015

-

11

 on July

1,

2017

did

not

have a material impact on our consolidated financial statements.

Inventories consist of the following (in thousands):

	03/31/2018			6/30/2017
Raw material and supplies	$	26,098		$	26,293
Goods in process and finished parts		19,788			16,419
Finished goods		43,910			41,591
		89,796			84,303
LIFO Reserve		(25,997	)		(26,206	)
	$	63,799		$	58,097

LIFO inventories were

$8.4

million and

$7.7

million at

March 31, 2018

and

June 30, 2017,

respectively, such amounts being approximately

$26.0

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

$0.2

million decrease in cost of sales for the

nine

months ended

March 31, 2018

compared to a

$1.5

million decrease in cost of sales for the

nine

months ended

March 31, 2017.