SCHEDULE II

12 Months Ended

Sep. 30, 2011

Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

SCHEDULE II

GRIFFON CORPORATION
VALUATION AND QUALIFYING ACCOUNTS
FOR THE YEARS ENDED SEPTEMBER 30, 2011, 2010 AND 2009
(in thousands)

Description	Balance at Beginning of Year		Acquired By Purchase		Recorded to Cost and Expense			Accounts Written Off, net			Other			Balance at End of Year
FOR THE YEAR ENDED SEPTEMBER 30, 2011
Allowance for Doubtful Accounts
Bad debts	$	5,091	$	—	$	1,121		$	(1,405	)	$	(197	)	$	4,610
Sales returns and allowances		1,490		—		2,741			(2,748	)		(21	)		1,462
	$	6,581	$	—	$	3,862		$	(4,153	)	$	(218	)	$	6,072
Inventory valuation	$	13,141	$	—	$	27,361		$	(26,474	)	$	(131	)	$	13,897
Deferred tax valuation allowance	$	13,977	$	—	$	(4,496	)	$	—		$	—		$	9,481
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Allowance for Doubtful Accounts
Bad debts	$	3,138	$	521	$	2,431		$	(996	)	$	(3	)	$	5,091
Sales returns and allowances		1,319		—		430			(258	)		(1	)		1,490
	$	4,457	$	521	$	2,861		$	(1,254	)	$	(4	)	$	6,581
Inventory valuation	$	11,178	$	1,187	$	4,904		$	(4,017	)	$	(111	)	$	13,141
Deferred tax valuation allowance	$	4,726	$	8,879	$	372		$	—		$	—		$	13,977
FOR THE YEAR ENDED SEPTEMBER 30, 2009
Allowance for Doubtful Accounts
Bad debts	$	3,675	$	—	$	628		$	(1,210	)	$	45		$	3,138
Sales returns and allowances		1,934		—		(247	)		(385	)		17			1,319
	$	5,609	$	—	$	381		$	(1,595	)	$	62		$	4,457
Inventory valuation	$	10,315	$	—	$	5,549		$	(4,725	)	$	39		$	11,178
Deferred tax valuation allowance	$	8,040	$	—	$	(3,314	)	$	—		$	—		$	4,726

Note: This Schedule II is for continuing operations only.