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Inventories

6 Months Ended

Nov. 30, 2021

Inventory Disclosure [Abstract]

Inventories

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

(in thousands)			Nov 30, 2021						May 31, 2021
Raw materials			$	26,706					$	22,925
Work in process			6,673						8,022
Finished goods			14,804						17,667
Inventories			$	48,183					$	48,614

The Company periodically reviews inventory 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 November 30, 2021 and May 31, 2021 was $4.0 million and $3.8 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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