Note 5: INVENTORIES
Inventories were as
follows at November 30:
| (In thousands) |
2007 |
2006 |
|
| Finished products |
$ 41,580
|
$ 30,802 |
| Materials and supplies |
28,246 |
22,224 |
| Products in process |
27,891 |
24,108 |
| |
|
| |
$ 97,717 |
$ 77,134 |
|
|
Certain steel inventories are valued using the LIFO method.
Inventories valued using the LIFO method comprised 17.5% and
24.1% of consolidated inventories at November 30, 2007 and 2006,
respectively. If inventories valued using the LIFO method had been
valued using the FIFO method, total inventories would have increased
by $9,749,000 and $6,085,000 at November 30, 2007 and 2006,
respectively. The increase in LIFO reserve for 2007 was due to
increases in steel prices and steel inventories within the Water
Transmission Group. |
