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INVENTORIES

12 Months Ended

Jan. 30, 2022

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

NOTE 6 – INVENTORIES

		January 30,				January 31,
		2022				2021
Finished furniture		$	89,066			$	81,290
Furniture in process			2,314				1,397
Materials and supplies			13,179				9,639
Inventories at FIFO			104,559				92,326
Reduction to LIFO basis			(29,536	)			(22,167	)
Inventories		$	75,023			$	70,159

If the first-in, first-out (FIFO) method had been used in valuing all inventories, net income would have been $17.4 million in fiscal 2022, net loss would have been $11.1 million in fiscal 2021, and net income would have been $19.5 million in fiscal 2020. We recorded LIFO expense of $7.4 million in fiscal 2022, LIFO income of $1.3 million in fiscal 2021, and LIFO expense of $3.1 million in fiscal 2020.

At January 30, 2022 and January 31, 2021, we had $8.9 million and $6.7 million, respectively, in consigned inventories, which are included in the “Finished furniture” line in the table above.

At January 30, 2022, we held $11.1 million in inventory outside of the United States, in Vietnam and China. At January 31, 2021, we held $11.3 million in inventory outside of the United States, in Vietnam and China.