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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Aug. 31, 2019

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

In accordance with ASC 606, the disclosure below reflects the impact of adoption to the consolidated statement of earnings, as compared to what the results would have been under ASC 605, Revenue Recognition. The impact to the consolidated balance sheet was immaterial.

		Year Ended August 31, 2019
(in thousands)		As Reported				Balances Without Adoption of ASC 606				Effect of Change - Higher (Lower)
Net sales		$	5,829,002			$	5,838,092			$	(9,090	)
Net earnings		198,093				205,147				(7,054		)

Estimated useful lives for depreciation and amortization

Depreciation and amortization is recorded on a straight-line basis over the following estimated useful lives:

Buildings	7	to	40	years
Land improvements	3	to	25	years
Leasehold improvements	3	to	15	years
Equipment	3	to	25	years

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Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

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Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

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