Inventories

12 Months Ended

Mar. 31, 2026

Inventories consisted of the following:


	March 31,
	2026		2025
At lower of cost or net realizable value — FIFO basis:
Raw materials	$	283,228	$	163,053
Work-in-process	94,015		30,349
Finished goods	255,592		37,197
	632,835		230,599
LIFO cost less than FIFO cost	(23,805)		(32,001)
Net inventories	$	609,030	$	198,598

The acquisition of Kito Crosby contributed $421,318,000 to the increase in FIFO-basis inventory since March 31, 2025.

During fiscal 2026, the Company divested its U.S. Power Chain Hoist and Chain Manufacturing Operations. Net inventories for the two divested businesses were $15,033,000 at March 31, 2026. Additional information regarding both transactions is provided within Note 3.

There were LIFO liquidations resulting in $1,196,000 and $37,000 of additional income in fiscal 2026 and 2025, respectively.