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Inventories | 6 Months Ended
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Feb. 28, 2021
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories include materials, labor, inbound freight, and related manufacturing overhead, are stated at the lower of cost (on a first-in, first-out or average cost basis) and net realizable value, and consist of the following as of the dates presented (in millions):
| February 28, 2021 |  | August 31, 2020
Raw materials, supplies, and work in process (1) | $ | 163.1 |  |  | $ | 170.3 |
Finished goods | 201.1 |  |  | 199.1 |
Inventories excluding reserves | 364.2 |  |  | 369.4 |
Less: Reserves | (42.9) |  |  | (49.3) |
Total inventories | $ | 321.3 |  |  | $ | 320.1 |
_______________________________________ (1) Due to the immaterial amount of estimated work in process and the short lead times for the conversion of raw materials to finished goods, we do not believe the segregation of raw materials and work in process is meaningful information. We review inventory quantities on hand and record a provision for excess or obsolete inventory primarily based on estimated future demand and current market conditions. A significant change in customer demand or market conditions could render certain inventory obsolete and could have a material adverse impact on our operating results in the period the change occurs.

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- References No definition available. + Details
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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 + Details
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