A majority of the Company’s inventories are recorded at the lower of cost (primarily last in, first out, or “LIFO”) or market or net realizable value, as applicable. Approximately 79% and 81% of the Company’s inventories were valued at the lower of LIFO cost or market at each of March 27, 2026 and September 30, 2025. Interim LIFO determinations, including those at March 27, 2026, are based on management’s estimates of future inventory levels and costs for the remainder of the current fiscal year.


(in thousands)	March 27, 2026		September 30, 2025
Purchased materials and manufactured parts, net	$	96,752	$	134,869
Work in process, net	61,771		74,159
Finished goods, net	242,540		275,817
Inventories, net	$	401,063	$	484,845

Total inventories would be $31,807 higher and $8,995 higher than reported as of March 27, 2026 and September 30, 2025, respectively, if the first-in, first-out method was used for all inventories.

During the three months ended March 27, 2026, inventory quantities in specific pools were lower at the end of the period than the quantities at the beginning of the period. This reduction resulted in a liquidation of LIFO inventory quantities carried at net higher costs prevailing in the respective prior years as compared with the cost of respective current year purchases. The effect of this inventory reduction resulted in increased cost of goods sold and decreasing operating income of approximately $2,630.