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INVENTORIES

12 Months Ended

Dec. 31, 2024

INVENTORIES

INVENTORIES

5. INVENTORIES

At December 31, 2024 and 2023, inventories consisted of:

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​	​	​	​	​	​	​
​		2024			2023
​	​	(Dollars in thousands)
Finished shoes	​	$	93,064	​	$	94,663
LIFO reserve	​		(19,052)	​		(19,773)
Total inventories	​	$	74,012	​	$	74,890

​

Finished shoes included inventory in-transit of $20.7 million and $16.7 million at December 31, 2024 and 2023, respectively. At both December 31, 2024 and 2023, 91% of our inventories were valued by the LIFO method of accounting while 9% were valued by the FIFO method of accounting.

​

During 2024, there were liquidations of LIFO inventory quantities carried at higher costs prevailing in prior years compared to the cost of fiscal 2024 purchases; the effect of these liquidations increased cost of sales by $0.4 million. During 2023, there were liquidations of LIFO inventory quantities carried at higher costs prevailing in prior years compared to the cost of fiscal 2023 purchases; the effect of these liquidations increased cost of sales by $2.1 million.

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- References

No definition available.

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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
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/330/tableOfContent

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