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Inventories

6 Months Ended

Jun. 30, 2011

Note 4 — Inventories

Inventories consisted of the following:


	June 30,			December 31,
	2011			2010
Finished goods	$	441,687		$	416,831
Raw materials		14,712			11,879
Work in process		5,714			6,112


		462,113			434,822
Reserve for slow-moving and obsolete inventory		(9,460	)		(10,505	)


	$	452,653		$	424,317

Inventories are valued at the lower of cost or market. The Company determines the cost of inventory at its retail stores using the weighted average method, which approximates the first-in, first-out method. All other inventory cost is determined using the first-in, first-out method.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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