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Inventories

12 Months Ended

Aug. 31, 2023

Inventory Disclosure [Abstract]

Inventories

Note 8 - Inventories

		August 31,
($ in thousands)		2023				2022
Raw materials and supplies		$	83,908			$	93,469
Work in process			7,820				12,603
Finished goods and purchased parts			86,793				110,022
Total inventory value before LIFO adjustment			178,521				216,094
Less adjustment to LIFO value			(22,589	)			(22,318	)
Inventories, net		$	155,932			$	193,776

Of the $178.5 million and $216.1 million of inventories at August 31, 2023, and 2022, respectively, $64.8 million and $77.8 million, respectively was valued on the last-in, first-out ("LIFO") basis, and $113.8 million and $138.3 million, respectively was valued on first-in, first-out ("FIFO") or average cost methods. In fiscal 2023, the Company recorded a $1.2 million decrease to its cost of goods sold, or $0.11 per diluted share, related to the liquidation of LIFO inventory quantities.

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

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