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NOTE 7 - INVENTORIES
 12 Months Ended
Jan. 29, 2017
Inventory Disclosure [Abstract]  
Inventory Disclosure [Text Block]
NOTE 7 – INVENTORIES

   
January 29,
    
January 31,
  
   
2017
    
2016
  
Finished furniture
  
$
85,520
    
$
55,120
  
Furniture in process
    
735
      
727
  
Materials and supplies
    
7,536
      
7,994
  
   Inventories at FIFO
    
93,791
      
63,841
  
Reduction to LIFO basis
    
(18,488
)
    
(20,128
)
   Inventories
  
$
75,303
    
$
43,713
  

If the first-in, first-out (FIFO) method had been used in valuing all inventories, net income would have been $24.2 million in fiscal 2017, $16.5 million in fiscal 2016, and $13.4 million in fiscal 2015. We recorded LIFO income of $1.6 million in fiscal 2017, while we recorded LIFO expense of $499,000 in fiscal 2016, and $1.3 million expense in fiscal 2015.

At January 29, 2017 and January 31, 2016, we had approximately $1.2 million and $1.3 million, respectively, in consigned inventories, which are included in the “Finished furniture” line in the table above.

At January 29, 2017, we held $11.9 million in inventory (approximately 3.7% of total assets) outside of the United States in China, Vietnam and Canada.  At January 31, 2016, we held $11.0 million in inventory (approximately 6% of total assets) outside of the United States, in China and Vietnam.