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NOTE 5 - INVENTORIES

12 Months Ended

Feb. 03, 2013

NOTE 5 – INVENTORIES

	February 3,			January 29,
	2013			2012
Finished furniture	$	58,584		$	42,656
Furniture in process		688			580
Materials and supplies		8,478			7,942
Inventories at FIFO		67,750			51,178
Reduction to LIFO basis		(17,878	)		(17,042	)
Inventories	$	49,872		$	34,136

If the first-in, first-out (FIFO) method had been used in valuing all inventories, net income would have been $9.2 million in fiscal 2013, $6.0 million in fiscal 2012, and $5.1 million in fiscal 2011.

As of February 3, 2013, we held $7.3 million in inventory (approximately 4.7% of total assets) outside of the United States, all in China. As of January 29, 2012, we held $7.8 million in inventory (approximately 5.3% of total assets) outside of the United States, all in China.

- 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.

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