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Inventories | 9 Months Ended
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May 31, 2025
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories consist of the following:
(in millions) | May 31, 2025 |  | August 31, 2024
Finished goods | $ | 79.0 |  |  | $ | 81.3 |
Work-in-process | 169.3 |  |  | 171.9 |
Raw materials | 281.0 |  |  | 237.6 |
Total | 529.3 |  |  | 490.8 |
Less: Excess of First-in, first-out ("FIFO") over LIFO cost | 51.5 |  |  | 52.1 |
Inventories, net | $ | 477.8 |  |  | $ | 438.7 |
Inventory valuation methods consist of the following:
(in millions) | May 31, 2025 |  | August 31, 2024
LIFO basis | $ | 257.3 |  |  | $ | 264.6 |
FIFO basis | 272.0 |  |  | 226.2 |
Total | $ | 529.3 |  |  | $ | 490.8 |
The above value of inventories, before reduction for the LIFO reserve, approximates replacement cost at the respective dates.

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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 + Details
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