(5) Inventories

Inventories are stated at the lower of cost or market. Cost is determined by the last-in, first-out (LIFO) method for the Company's Lindsay, Nebraska inventory and two warehouses in Idaho and Texas. Cost is determined by the first-in, first-out (FIFO) method for inventory at the Company's Omaha, Nebraska warehouse, and at operating locations in California, Wisconsin, China and Australia. Cost is determined by the weighted average cost method for inventory at the Company's other operating locations in Washington State, France, Brazil, Italy, and South Africa. At all locations, the Company reserves for obsolete, slow moving, and excess inventory by estimating the net realizable value based on the potential future use of such inventory.

		September 30,			September 30,			September 30,
	November 30,			November 30,			August 31,
$ in thousands	2011			2010			2011
Inventory:
FIFO inventory	$	29,604		$	24,356		$	22,614
LIFO reserves		(7,178	)		(6,305	)		(7,178	)

LIFO inventory		22,426			18,051			15,436

Weighted average inventory		21,768			19,098			20,848
Other FIFO inventory		15,692			18,184			15,407
Obsolescence reserve		(2,240	)		(2,186	)		(2,167	)

Total inventories	$	57,646		$	53,147		$	49,524

The estimated percentage distribution between major classes of inventory before reserves is as follows:

		September 30,			September 30,			September 30,
	November 30,			November 30,			August 31,
	2011			2010			2011
Raw materials		17	%		13	%		14	%
Work in process		6	%		7	%		8	%
Finished goods and purchased parts		77	%		80	%		78	%