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Inventories

6 Months Ended

Nov. 30, 2022

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, 2022						May 31, 2022
Raw materials			$	33,732					$	28,251
Work in process			8,201						7,186
Finished goods			21,244						15,955
Inventories			$	63,177					$	51,392

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, 2022 and May 31, 2022 was $3.9 million and $3.7 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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