XML 29 R14.htm IDEA: XBRL DOCUMENT v3.8.0.1
NOTE 6 - INVENTORIES
 12 Months Ended
Jan. 28, 2018
Inventory Disclosure [Abstract]  
Inventory Disclosure [Text Block]
NOTE 6 – INVENTORIES

   
January 28,
    
January 29,
  
   
2018
    
2017
  
Finished furniture
  
$
92,502
    
$
85,520
  
Furniture in process
    
1,440
      
735
  
Materials and supplies
    
8,780
      
7,536
  
   Inventories at FIFO
    
102,722
      
93,791
  
Reduction to LIFO basis
    
(18,263
)
    
(18,488
)
   Inventories
  
$
84,459
    
$
75,303
  

If the first-in, first-out (FIFO) method had been used in valuing all inventories, net income would have been $28 million in fiscal 2018, $24.2 million in fiscal 2017, and $16.5 million in fiscal 2016. We recorded LIFO income of $340,000 in fiscal 2018, while we recorded LIFO income of $1.6 million in fiscal 2017, and $499,000 LIFO expense in fiscal 2016.

At both January 28, 2018 and January 29, 2017, we had approximately $3.2 million, in consigned inventories, which are included in the “Finished furniture” line in the table above.

At January 28, 2018, we held $10.5 million in inventory (approximately 3.0% of total assets) outside of the United States, in China and in Vietnam.   At January 29, 2017, we held $11.9 million in inventory (approximately 3.7% of total assets) outside of the United States, in China and Vietnam.