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Inventories | 6 Months Ended
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Feb. 28, 2023
Inventory Disclosure [Abstract] |
Inventories | Note 5 – Inventories Inventories consisted of the following as of February 28, 2023, February 28, 2022, and August 31, 2022:
($ in thousands) |  | February 28, 2023 |  |  | February 28, 2022 |  |  | August 31, 2022 |
Raw materials and supplies |  | $ | 89,968 |  |  | $ | 86,010 |  |  | $ | 93,469 |
Work in process |  |  | 9,837 |  |  |  | 11,620 |  |  |  | 12,603 |
Finished goods and purchased parts, net |  |  | 103,067 |  |  |  | 96,724 |  |  |  | 110,022 |
Total inventory value before LIFO adjustment |  |  | 202,872 |  |  |  | 194,354 |  |  |  | 216,094 |
Less adjustment to LIFO value |  |  | (24,169 | ) |  |  | (7,026 | ) |  |  | (22,318 | )
Inventories, net |  | $ | 178,703 |  |  | $ | 187,328 |  |  | $ | 193,776 |
Of the $178.7 million, $187.3 million, and $193.8 million of net inventories at February 28, 2023, February 28, 2022, and August 31, 2022, respectively, $47.2 million, $53.5 million, and $55.5 million, respectively, was valued on the last-in, first-out ("LIFO") basis, and $131.5 million, $133.9 million, and $138.3 m illion, respectively, was valued on the first-in, first-out ("FIFO") or average cost methods.

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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 https://asc.fasb.org/topic&trid=2126998 + Details
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