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INVENTORIES

9 Months Ended

Feb. 28, 2013

2. INVENTORIES

Inventories are stated at the lower of cost, determined on the first-in, first-out method, or market. The components of inventories follow:


	February 28, 2013		May 31, 2012
	(In thousands)
Raw Materials	$	18,140	$	13,997
Work-in-process		3,823		2,110
Finished and purchased goods		19,119		18,885

	$	41,082	$	34,992

- 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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