Note 3 - Inventories

6 Months Ended

Sep. 30, 2017

Inventories

First-In, First-Out (“FIFO”) based inventory costs exceeded LIFO based inventory costs by

$151,096,000

as of the end of the

second

quarter of fiscal

2018

as compared to

$143,650,000

as of the end of the

second

quarter of fiscal

2017.

The change in the LIFO Reserve for the

three

months ended

September 30, 2017

was an increase of

$10,398,000

as compared to an increase of

$2,476,000

for the

three

months ended

October 1, 2016.

The LIFO Reserve increased by

$17,841,000

in the

first

six

months of fiscal

2018

compared to an increase of

$4,375,000

in the

first

six

months of fiscal

2017.

This reflects the projected impact of an overall cost increase expected in fiscal

2018

versus fiscal

2017.