XML 59 R15.htm IDEA: XBRL DOCUMENT

Inventories

9 Months Ended

Nov. 25, 2011

Note 10—Inventories


(In thousands)	November 25, 2011		February 28, 2011		November 26, 2010
Raw materials	$	16,912	$	21,248	$	16,885
Work in process		8,294		6,476		7,842
Finished products		251,213		212,056		215,361

		276,419		239,780		240,088
Less LIFO reserve		81,515		78,358		75,818

		194,904		161,422		164,270
Display materials and factory supplies		19,508		18,308		17,241

	$	214,412	$	179,730	$	181,511

The valuation of inventory under the Last-In, First-Out (“LIFO”) method is made at the end of each fiscal year based on inventory levels and costs at that time. Accordingly, interim LIFO calculations, by necessity, are based on estimates of expected fiscal year-end inventory levels and costs, and are subject to final fiscal year-end LIFO inventory calculations.

Inventory held on location for retailers with scan-based trading arrangements, which is included in finished products, totaled $61.5 million, $42.1 million and $48.7 million as of November 25, 2011, February 28, 2011 and November 26, 2010, respectively.

- Definition

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.

+ References+ Details