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Inventories

6 Months Ended

Jan. 31, 2012

3.	Inventories

Major classifications of inventories are:


	January 31, 2012		July 31, 2011
Raw materials	$	101,458	$	104,360
Chassis		42,576		46,548
Work in process		56,591		48,575
Finished goods		21,764		14,179

Total		222,389		213,662
Excess of FIFO costs over LIFO costs		(30,164)		(29,164)

Total inventories	$	192,225	$	184,498

Of the $222,389 and $213,662 of inventory at January 31, 2012 and July 31, 2011, all but $32,503 and $25,530, respectively, at certain subsidiaries were valued on a last-in, first-out basis. The $32,503 and $25,530 of inventory were valued on a first-in, first-out method.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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