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Inventories

3 Months Ended

Feb. 03, 2012

Inventories

Inventories

Inventories are valued at the lower of cost or net realizable value, with cost determined by the last-in, first-out (“LIFO”) method for most inventories and first-in, first-out (“FIFO”) method for all other inventories. The company establishes a reserve for excess, slow-moving, and obsolete inventory that is equal to the difference between the cost and estimated net realizable value for that inventory. These reserves are based on a review and comparison of current inventory levels to the planned production, as well as planned and historical sales of the inventory.

Inventories were as follows:

		February 3,			January 28,			October 31,
(Dollars in thousands)		2012			2011			2011
Raw materials and work in process		$	101,596		$	78,974		$	94,176
Finished goods and service parts		231,879			216,502			189,855
Total FIFO value		333,475			295,476			284,031
Less: adjustment to LIFO value		61,001			55,742			61,001
Total		$	272,474		$	239,734		$	223,030

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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