Inventories consisted of the following as of November 30, 2025, November 30, 2024, and August 31, 2025:


($ in thousands)	November 30, 2025			November 30, 2024			August 31, 2025
Raw materials and supplies	$	68,850		$	87,861		$	70,510
Work in process		9,786			12,369			7,186
Finished goods and purchased parts, net		89,382			79,365			78,631
Total inventory value before LIFO adjustment		168,018			179,595			156,327
Less adjustment to LIFO value		(21,630	)		(21,340	)		(19,468	)
Inventories, net	$	146,388		$	158,255		$	136,859

Of the $146.4 million, $158.3 million, and $136.9 million of net inventories at November 30, 2025, November 30, 2024, and August 31, 2025, respectively, $36.9 million, $40.8 million, and $35.0 million, respectively, was valued on the last-in, first-out ("LIFO") basis, and $109.5 million, $117.5 million, and $101.9 million, respectively, was valued on the first-in, first-out ("FIFO") or average cost methods.