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Inventories | 12 Months Ended
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Feb. 28, 2021
Inventory Disclosure [Abstract] |
Inventories | (4) Inventories The following table summarizes the components of inventories at the different stages of production as of February 28, 2021 and February 29, 2020 (in thousands):
|  | 2021 |  |  | 2020 |
Raw material |  | $ | 19,699 |  |  | $ | 20,267 |
Work-in-process |  |  | 3,762 |  |  |  | 4,557 |
Finished goods |  |  | 9,445 |  |  |  | 10,011 |
|  | $ | 32,906 |  |  | $ | 34,835 |
The excess of current costs at FIFO over LIFO stated values was approximately $4.6 million and $4.9 million as of fiscal years ended 2021 and 2020, respectively. During both fiscal year 2021 and 2020, as inventory quantities were reduced, this resulted in a liquidation of LIFO inventory quantities carried at lower costs prevailing in prior years compared with the cost of fiscal year 2020 and 2019, as applicable. The effect decreased cost of sales by approximately $0.1 million, $0.1 million and $0.1 million for fiscal years 2021, 2020 and 2019, respectively. Cost includes materials, labor and overhead related to the purchase and production of inventories.

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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 + Details
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