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NOTE 5 - INVENTORIES | 12 Months Ended
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Jan. 31, 2016
Inventory Disclosure [Abstract] |
Inventory Disclosure [Text Block] | NOTE 5 – INVENTORIES
|  | January 31, |  |  | February 1, |
|  | 2016 |  |  | 2015 |
Finished furniture |  | $ | 55,120 |  |  | $ | 54,896 |
Furniture in process |  |  | 727 |  |  |  | 615 |
Materials and supplies |  |  | 7,994 |  |  |  | 9,131 |
Inventories at FIFO |  |  | 63,841 |  |  |  | 64,642 |
Reduction to LIFO basis |  |  | (20,128 | ) |  |  | (19,669 | )
Inventories |  | $ | 43,713 |  |  | $ | 44,973 |
If the first-in, first-out (FIFO) method had been used in valuing all inventories, net income would have been $16.5 million in fiscal 2016, $13.4 million in fiscal 2015 and $8.2 million in fiscal 2014. We recorded total LIFO expense of $499,000 in fiscal 2016, $1.3 million in fiscal 2015 and $493,000 in fiscal 2014. The reduction in LIFO basis as of February 2, 2014 and February 3, 2013 was $18.4 million and $17.9 million, respectively. At January 31, 2016 and February 1, 2015, we had approximately $1.3 million and $1.1 million, respectively, in consigned inventories, which are included in the “Finished furniture” line in the table above. At January 31, 2016, we held $11.0 million in inventory (approximately 6% of total assets) outside of the United States, in China and in Vietnam. At February 1, 2015, we held $10.2 million in inventory (approximately 6% of total assets) outside of the United States, in China and Vietnam.

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- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a, b, c -Article 5 + Details
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