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Inventories

3 Months Ended

Nov. 30, 2019

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consist of the following:

(in thousands)	November 30, 2019				August 31, 2019
Finished goods	$	77,315			$	53,417
Work-in-process	105,779				82,926
Raw materials	121,592				105,804
Total	304,686				242,147
Less last-in, first-out ("LIFO") reserve	41,353				41,021
Inventories, net	$	263,333			$	201,126

Inventory valuation methods consist of the following:

(in thousands)	November 30, 2019				August 31, 2019
LIFO basis	$	164,340			$	184,007
First-in, first-out basis	140,346				58,140
Total	$	304,686			$	242,147

The above value of inventories, before reduction for the LIFO reserve, approximates replacement cost at the respective dates.

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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