Note 5 - Inventories

12 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Inventory Disclosure [Text Block]

5

.  INVENTORIES

 Inventories consist of the following (in thousands):

	June 30, 2020			June 30, 2019
Raw materials and supplies	$	26,255		$	26,106
Goods in process and finished parts		13,694			17,464
Finished goods		37,579			41,500
		77,528			85,070
LIFO reserve		(24,541	)		(23,280	)
	$	52,987		$	61,790

Of the Company's

$53.0

million and

$61.8

million total inventory at

June 30, 2020

and

2019,

respectively, the

$24.5

million and

$23.3

million LIFO reserves belong to the U.S. Precision Tools and Saws Manufacturing “Core U.S.” business. The Core U.S. business had total Inventory, on a FIFO basis, of

$33.1

million and

$8.6

million on a LIFO basis as of

June 30, 2020. 

The Core U.S. business total inventory was

$33.2

million on a FIFO basis and

$9.8

million on a LIFO basis at

June 30, 2019. 

The use of LIFO, as compared to FIFO, resulted in a

$1.3

million increase in cost of sales for the goods sold in fiscal

2020

compared to a

$1.6

million decrease in fiscal

2019.