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Inventories

12 Months Ended

Feb. 28, 2013

Inventories [Abstract]

(3) Inventories

The following table summarizes the components of inventories at the different stages of production for the fiscal years ended (in thousands):


		2013				2012
Raw material		$	14,470			$	22,217
Work-in-process			11,238				11,194
Finished goods			83,990				99,161

		$	109,698			$	132,572

The excess of current costs at FIFO over LIFO stated values was approximately $5.0 million and $5.4 million at fiscal years ended 2013 and 2012, respectively. During fiscal year 2013, inventory quantities were reduced. This reduction resulted in a liquidation of LIFO inventory quantities carried at lower costs prevailing in prior years as compared with the cost of fiscal year 2012, the effect of which decreased cost of sales by approximately $0.4 million and increased net earnings by approximately $0.3 million. There were no significant liquidations of LIFO inventories during the fiscal years ended 2012 and 2011. Cost includes materials, labor and overhead related to the purchase and production of inventories.

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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