Note B - Change in Accounting Principle (Tables)

3 Months Ended

Jun. 30, 2018

Notes Tables

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

	As Originally Reported			Effect of Change			As Adjusted
Consolidated Statement of Operations, Quarter Ended June 30, 2017
Cost of goods sold		21,819,846			(279,887	)		21,539,959
Income tax provision		58,784			86,177			144,961
Net earnings		170,620			193,710			364,330
Net earnings per share:
Basic		0.02			0.03			0.05
Diluted		0.02			0.03			0.05
Consolidated Statement of Cash Flows, Quarter Ended June 30, 2017
Net earnings		170,620			193,710			364,330
Change in inventories		(4,497,191	)		(279,887	)		(4,777,078	)
Change in deferred income taxes		58,784			86,177			144,961
Consolidated Balance Sheet, as of March 31, 2018
Inventories		38,039,332			7,290,102			45,329,434
Deferred income tax liability		103,198			1,768,968			1,872,166
Retained earnings		31,190,246			5,521,134			36,711,380

	As Computed Under LIFO		As Computed Under Average Cost		Effect of Change
Consolidated Statement of Operations, Quarter Ended June 30, 2018
Earnings before income taxes		2,100,440		4,762,513		2,662,073
Income tax provision		514,128		1,162,620		648,492
Net earnings		1,586,312		3,599,893		2,013,581
Net earnings per share:
Basic		0.23		0.51		0.28
Diluted		0.23		0.51		0.28