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Note 2 - INVENTORIES

3 Months Ended

May 31, 2019

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

Note 2 – INVENTORIES

Inventories consist of the following:

		2019
		May 31,				February 28,
Current:
Book inventory		$	33,646,400			$	33,494,200
Inventory valuation allowance			(138,500	)			(48,600	)
Inventories net - current		$	33,507,900			$	33,445,600
Noncurrent:
Book inventory		$	892,000			$	904,400
Inventory valuation allowance			(336,000	)			(329,400	)
Inventories net - noncurrent		$	556,000			$	575,000

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 $5.9 million and $7.6 million for the three months ended May 31, 2019 and 2018, respectively. Total inventory purchases from all suppliers were $9.2 million and $11.0 million for the three months ended May 31, 2019 and 2018, respectively.

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- References

No definition available.

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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