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INVENTORIES, NET | 9 Months Ended
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May 31, 2024
Inventory Disclosure [Abstract] |
Inventories, net | NOTE 5. INVENTORIES, NET The majority of the Company's inventories are in the form of semi-finished and finished steel products. Under the Company’s vertically integrated business models in the North America Steel Group segment and the Europe Steel Group segment, steel products are sold to external customers in various stages, from semi-finished billets through fabricated steel, leading these categories to be combined as finished goods. The components of inventories were as follows:
(in thousands) |  | May 31, 2024 |  | August 31, 2023
Raw materials |  | $ | 278,118 |  |  | $ | 261,619 |
Work in process |  | 5,315 |  |  | 6,844 |
Finished goods |  | 791,743 |  |  | 767,119 |
Total |  | $ | 1,075,176 |  |  | $ | 1,035,582 |

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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 -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//330/tableOfContent + Details
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