XML 42 R11.htm IDEA: XBRL DOCUMENT

Inventories

9 Months Ended

Dec. 29, 2013

Inventories at December 29, 2013 and March 31, 2013 consisted of the following:



	December 29, 2013			March 31, 2013
(In thousands)	December 29, 2013			March 31, 2013
Inventory (FIFO basis)	$	37,640		$	35,281
LIFO reserve	(6,916		)	(7,073		)
Net inventory	$	30,724		$	28,208

The first in, first out (“FIFO”) value of inventories accounted for under the last in, first out (“LIFO”) method was $32.8 million at December 29, 2013 and $30.3 million at March 31, 2013. The remainder of the inventory was valued and accounted for under the FIFO method.

The LIFO reserve changed nominally during the three months ended December 29, 2013, and increased $0.1 million during the three months ended December 30, 2012. During the nine months ended December 29, 2013 the LIFO reserve decreased $0.2 million, and for the nine months ended December 30, 2012 the LIFO reserve increased $0.2 million. The valuation of LIFO inventory for interim periods is based on our estimates of year-end inventory levels and costs.

- 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