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Inventories | 12 Months Ended
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Dec. 26, 2020
Inventories [Abstract] |
Inventories | Note 3 Inventories Merchandise inventories, as of December 26, 2020 and December 28, 2019, were valued as follows:
(dollars in thousands) |  | 2020 |  | 2019
LIFO | $ | 191,051 | $ | 204,043
Average cost |  | 77,973 |  | 75,763
| $ | 269,024 | $ | 279,806
Management believes the use of the LIFO method for valuing certain inventories represents the most appropriate matching of costs and revenues in the Company’s circumstances. If all inventories were valued on the average cost method, which approximates current cost, total inventories would have been $70.4 million and $70.7 million higher than as reported on the above methods as of December 26, 2020 and December 28, 2019, respectively. During 2020 and 2019, the Company had certain decrements in its LIFO pools, which had an insignificant impact on the cost of sales.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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