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Inventories

12 Months Ended

Jun. 30, 2021

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories consist of the following:

June 30,						2021						2020
U.S. inventories at average cost						$	387,456					$	431,866
Foreign inventories at average cost						126,945						112,795
						514,401						544,661
Less: Excess of average cost over LIFO cost for U.S. inventories						151,854						155,511
Inventories on consolidated balance sheets						$	362,547					$	389,150

The overall impact of LIFO layer liquidations increased gross profit by $3,895, $1,990, and $112 in fiscal 2021, fiscal 2020, and fiscal 2019, respectively.

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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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