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Inventories

6 Months Ended

Oct. 31, 2011

B. Inventories

Inventories consisted of the following (in thousands):


	October 31, 2011		April 30, 2011
Finished products	$	3,159	$	2,887
Work in process		1,506		1,697
Raw materials		5,705		5,882

	$	10,370	$	10,466

For interim reporting, LIFO inventories are computed based on year-to-date quantities and interim changes in price levels. Changes in quantities and price levels are reflected in the interim consolidated financial statements in the period in which they occur.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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