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Note 10 - REVENUE RECOGNITION (Tables)

9 Months Ended

Nov. 30, 2018

Revenue from Contract with Customer [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

										Without
		As Reported				Adjustments				Adoption
ASSETS
Accounts receivable-Net		$	2,913,700			$	(99,900	)		$	2,813,800
Inventories-Net			26,618,600				(100	)			26,618,500
Prepaid expenses and other assets			1,259,000				(117,000	)			1,142,000
Total current assets			33,514,600				(217,000	)			33,297,600
TOTAL ASSETS			61,837,900				(217,000	)			61,620,900
LIABILITIES
Other current liabilities			3,517,900				(217,000	)			3,300,900
Total liabilities			41,435,800				(217,000	)			41,218,800

										Without
		As Reported				Adjustments				Adoption
GROSS SALES:		$	44,383,700			$	(2,489,100	)		$	41,894,600
Less discounts and allowances			(9,249,500	)			2,487,200				(6,762,300	)
Transportation revenue			3,775,700				-				3,775,700
NET REVENUES			38,909,900				(1,900	)			38,908,000
COST OF GOODS SOLD			12,211,700				(1,716,900	)			10,494,800
Gross margin			26,698,200				1,715,000				28,413,200
OPERATING EXPENSE:
Operating and selling			6,121,100				1,716,200				7,837,300
Sales commissions			12,510,400				-				12,510,400
General and administrative			4,735,200				-				4,735,200
Total operating expenses			23,366,700				1,716,200				25,082,900
INTEREST EXPENSE			287,600				-				287,600
OTHER INCOME			(388,900	)			(1,200	)			(390,100	)
EARNINGS BEFORE INCOME TAXES			3,432,800				-				3,432,800
INCOME TAXES			1,304,400				-				1,304,400
NET EARNINGS		$	2,128,400			$	-			$	2,128,400

										Without
		As Reported				Adjustments				Adoption
GROSS SALES:		$	109,395,400			$	(8,405,900	)		$	100,989,500
Less discounts and allowances			(28,317,300	)			8,388,000				(19,929,300	)
Transportation revenue			8,959,900				-				8,959,900
NET REVENUES			90,038,000				(17,900	)			90,020,100
COST OF GOODS SOLD			28,460,800				(3,881,600	)			24,579,200
Gross margin			61,577,200				3,863,700				65,440,900
OPERATING EXPENSE:
Operating and selling			13,684,200				3,865,700				17,549,900
Sales commissions			28,759,300				-				28,759,300
General and administrative			12,359,600				-				12,359,600
Total operating expenses			54,803,100				3,865,700				58,668,800
INTEREST EXPENSE			863,800				-				863,800
OTHER INCOME			(1,187,400	)			(2,000	)			(1,189,400	)
EARNINGS BEFORE INCOME TAXES			7,097,700				-				7,097,700
INCOME TAXES			2,707,100				-				2,707,100
NET EARNINGS		$	4,390,600			$	-			$	4,390,600

Disaggregation of Revenue [Table Text Block]

										Without
		As Reported				Adjustments				Adoption
GROSS SALES:		$	39,250,800			$	(2,489,100	)		$	36,761,700
Less discounts and allowances			(6,546,200	)			2,487,200				(4,059,000	)
Transportation revenue			3,765,700				-				3,765,700
NET REVENUES			36,470,300				(1,900	)			36,468,400
COST OF GOODS SOLD			10,831,100				(1,716,900	)			9,114,200
Gross margin			25,639,200				1,715,000				27,354,200
OPERATING EXPENSE:
Operating and selling			5,144,000				1,716,200				6,860,200
Sales commissions			12,420,000				-				12,420,000
General and administrative			1,158,600				-				1,158,600
Total operating expenses			18,722,600				1,716,200				20,438,800
OPERATING INCOME		$	6,916,600			$	(1,200	)		$	6,915,400

										Without
		As Reported				Adjustments				Adoption
GROSS SALES:		$	5,132,900			$	-			$	5,132,900
Less discounts and allowances			(2,703,300	)			-				(2,703,300	)
Transportation revenue			10,000				-				10,000
NET REVENUES			2,439,600				-				2,439,600
COST OF GOODS SOLD			1,380,600				-				1,380,600
Gross margin			1,059,000				-				1,059,000
OPERATING EXPENSE:
Operating and selling			337,800				-				337,800
Sales commissions			90,400				-				90,400
General and administrative			74,000				-				74,000
Total operating expenses			502,200				-				502,200
OPERATING INCOME		$	556,800			$	-			$	556,800

										Without
		As Reported				Adjustments				Adoption
GROSS SALES:		$	95,549,800			$	(8,406,600	)		$	87,143,200
Less discounts and allowances			(20,984,000	)			8,388,700				(12,595,300	)
Transportation revenue			8,933,500				-				8,933,500
NET REVENUES			83,499,300				(17,900	)			83,481,400
COST OF GOODS SOLD			24,821,100				(3,881,600	)			20,939,500
Gross margin			58,678,200				3,863,700				62,541,900
OPERATING EXPENSE:
Operating and selling			10,887,200				3,864,900				14,752,100
Sales commissions			28,507,800				-				28,507,800
General and administrative			3,416,800				-				3,416,800
Total operating expenses			42,811,800				3,864,900				46,676,700
OPERATING INCOME		$	15,866,400			$	(1,200	)		$	15,865,200

										Without
		As Reported				Adjustments				Adoption
GROSS SALES:		$	13,845,600			$	700			$	13,846,300
Less discounts and allowances			(7,333,300	)			(700	)			(7,334,000	)
Transportation revenue			26,400				-				26,400
NET REVENUES			6,538,700				-				6,538,700
COST OF GOODS SOLD			3,639,700				-				3,639,700
Gross margin			2,899,000				-				2,899,000
OPERATING EXPENSE:
Operating and selling			876,800				-				876,800
Sales commissions			249,500				-				249,500
General and administrative			258,500				-				258,500
Total operating expenses			1,384,800				-				1,384,800
OPERATING INCOME		$	1,514,200			$	-			$	1,514,200

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