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Interim LIFO Calculations
3 Months Ended
Mar. 31, 2022
Interim LIFO Calculations [Abstract]  
Interim LIFO Calculations
NOTE D – Interim LIFO Calculations

We calculate the LIFO index annually. Accordingly, interim LIFO calculations must necessarily be based on management’s estimates of inventory levels and inflation rates. Since these estimates may be affected by factors beyond management’s control, interim results are subject to change based upon the final year-end LIFO inventory valuations.