Steelcase
Inc.
Notes
to Consolidated Financial Statements
Note 3
Inventories
Inventories consist of:
| (in millions) | ||||
|
|
||||
| Feb 27, 1998 | Feb 28, 1997 | |||
|
|
||||
| Finished goods | $ | 42.9 | $ | 44.3 |
| Work in process | 30.8 | 30.8 | ||
| Raw materials | 83.7 | 84.1 | ||
|
|
||||
| 157.4 | 159.2 | |||
| LIFO reserve | (51.6) | (51.2) | ||
|
|
||||
| $ | 105.8 | $ | 108.0 | |
|
|
||||
The effect of LIFO liquidations on net income was $0.6 million, $5.4 million and $2.9 million for 1998, 1997 and 1996 respectively.
