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Inventories

9 Months Ended

Feb. 28, 2021

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories are stated at lower of cost and net realizable value (using the first-in, first-out method). Inventories consisted of the following:

(in thousands)			Feb 28, 2021						May 31, 2020
Raw materials			$	21,237					$	23,308
Work in process			8,508						8,318
Finished goods			19,261						28,279
Inventories			$	49,006					$	59,905

The Company periodically reviews for both obsolescence and loss of value. The Company makes assumptions about the future demand for and market value of the inventory. Based on these assumptions, the Company estimates the amount of obsolete, expiring and slow-moving inventory. The total inventory reserve at February 28, 2021 and May 31, 2020 was $4.0 million and $4.7 million, respectively.

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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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