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Note 2 - INVENTORIES
 9 Months Ended
Nov. 30, 2018
Inventory Disclosure [Abstract]  
Inventory Disclosure [Text Block]

Note 2 – INVENTORIES


Inventories consist of the following:


   

2018

  
   

November 30,

    

February 28,

  

Current:

                

Book inventory

   $ 30,905,100     $ 27,078,600  

Inventory valuation allowance

     (259,100 )     (460,000 )

Inventories net - current

   $ 30,646,000     $ 26,618,600  
                 

Noncurrent:

                

Book inventory

   $ 1,021,400     $ 707,700  

Inventory valuation allowance

     (417,400 )     (271,800 )

Inventories net - noncurrent

   $ 604,000     $ 435,900  

Book inventory quantities in excess of what we expect will be sold within the normal operating cycle, based on 2.5 years of anticipated sales, are included in non-current inventory.


Significant portions of our inventory purchases are concentrated with an England-based publishing company, Usborne Publishing, Ltd. (“Usborne”). Purchases from this company were approximately $8.0 million and $6.9 million for the three months ended November 30, 2018 and 2017, respectively. Total inventory purchases from all suppliers were $10.1 million and $10.9 million for the three months ended November 30, 2018 and 2017, respectively.


Purchases from Usborne were approximately $23.5 million and $18.2 million for the nine months ended November 30, 2018 and 2017, respectively. Total inventory purchases from all suppliers were $31.7 million and $27.5 million for the nine months ended November 30, 2018 and 2017, respectively.