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Inventories, Net (Notes)

6 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Inventories, Net

Inventories, Net

We use the last-in, first-out (“LIFO”) and first-in, first-out (“FIFO”) cost methods to value inventory. Inventory valued using the LIFO cost method is stated at the lower of cost or market. Inventory valued using the FIFO cost method is stated at the lower of cost or net realizable value. An actual valuation of inventory under the LIFO method is made only at the end of the fiscal year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and are subject to the final fiscal year-end LIFO inventory valuation. Inventory costs include material, labor, and overhead. Inventories, net consisted of the following:

						September 30, 2020						March 31, 2020
Raw materials						$	101,608					$	94,321
Work in process						40,617						35,643
Finished goods						172,483						151,381
LIFO reserve						(18,752)						(16,937)
Reserve for excess and obsolete inventory						(17,363)						(16,149)
Inventories, net						$	278,593					$	248,259

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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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