XML 26 R13.htm IDEA: XBRL DOCUMENT v3.7.0.1
Inventory
12 Months Ended
Dec. 31, 2016
Inventory Disclosure [Abstract]  
Inventory
INVENTORY

Our inventory is stated at the lower of cost (determined using the LIFO cost method) or market.  Inventories valued using the LIFO method comprised 90% and 93% of the total inventories at December 31, 2016 and 2015, respectively. Had the first-in, first-out (“FIFO”) method been used, merchandise inventory would have been $147,091 and $136,143 greater than reported under the LIFO method at December 31, 2016 and 2015, respectively.  In 2016, we liquidated portions of previously-created LIFO layers, resulting in decreases in cost of merchandise sold of $131. We did not liquidate any portion of previously-created LIFO layers in 2015 and 2014
 
Reserves for excess and obsolete inventories were $6,553 and $4,912 at December 31, 2016 and 2015, respectively.  The change in the reserve for excess and obsolete inventories, included in cost of merchandise sold, was $1,641, $495, and $670 for the years ended December 31, 2016, 2015, and 2014, respectively.