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Inventories

12 Months Ended

Feb. 29, 2012

Inventories [Abstract]

NOTE 7 – INVENTORIES


		February 29, 2012				February 28, 2011
Raw materials		$	17,565			$	21,248
Work in process			9,452				6,476
Finished products			242,767				212,056

			269,784				239,780
Less LIFO reserve			81,077				78,358

			188,707				161,422
Display material and factory supplies			20,238				18,308

		$	208,945			$	179,730

There were no material LIFO liquidations in 2012 and 2011. During 2010, inventory quantities declined resulting in the liquidation of LIFO inventory layers carried at lower costs compared with current year purchases. The income statement effect of such liquidation on material, labor and other production costs was approximately $13,000. Inventory held on location for retailers with SBT arrangements, which is included in finished products, totaled approximately $52,000 and $42,000 as of February 29, 2012 and February 28, 2011, respectively.

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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