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Inventories | 3 Months Ended
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Jun. 30, 2021
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories consisted of the following (in thousands):
|  | June 30, 2021 |  | March 31, 2021
At cost - FIFO basis: |  |  |  |
Raw materials |  | $ | 97,516 |  |  | $ | 79,981 |
Work-in-process |  | 29,404 |  |  | 23,067 |
Finished goods |  | 31,536 |  |  | 27,201 |
Total at cost FIFO basis |  | 158,456 |  |  | 130,249 |
LIFO cost less than FIFO cost |  | (19,798) |  |  | (18,761) |
Net inventories |  | $ | 138,658 |  |  | $ | 111,488 |
The acquisition of Dorner contributed $13,768,000 to the increase in inventory since March 31, 2021. An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations must necessarily be based on management's estimates of expected year-end inventory levels and costs. Because these are subject to many factors beyond management's control, estimated interim results are subject to change in the final year-end LIFO inventory valuation.

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- References No definition available. + Details
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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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