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Inventories

12 Months Ended

Sep. 30, 2021

Inventory Disclosure [Abstract]

Inventories

9.    Inventories

Inventories consisted of the following (in millions):

		September 30,
		2021				2020
Raw materials		$	873.5			$	745.7
Partially finished products			276.2				295.2
Finished products			265.2				565.0
Inventories at FIFO cost			1,414.9				1,605.9
Excess of FIFO cost over LIFO cost			(147.5	)			(100.5	)
		$	1,267.4			$	1,505.4

Liquidation of previously established LIFO layers had a favorable impact on net income and diluted earnings per share of $9.5 million and $0.14 per share, respectively, in fiscal 2021. There were no material liquidations of previously established LIFO layers in fiscal 2020 or 2019.

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- References

No definition available.

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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