Note B - Change in Accounting Principle (Tables)

9 Months Ended

Dec. 31, 2018

	As Originally Reported			Effect of Change			As Adjusted
Consolidated Statement of Operations, Three Months Ended December 31, 2017
Cost of goods sold		26,364,387			(55,400	)		26,308,987
Income tax provision		542,909			17,058			559,967
Net earnings		122,929			38,342			161,271

Net earnings per share:
Basic		0.02			-			0.02
Diluted		0.02			-			0.02

Consolidated Statement of Operations, Nine Months Ended December 31, 2017
Cost of goods sold		72,884,773			(458,528	)		72,426,245
Income tax provision		748,674			141,181			889,855
Net earnings		603,588			317,347			920,935

Net earnings per share:
Basic		0.09			0.04			0.13
Diluted		0.09			0.04			0.13

Consolidated Statement of Cash Flows, Nine Months Ended December 31, 2017
Net earnings		603,588			317,347			920,935
Change in inventories		(11,480,885	)		(458,528	)		(11,939,413	)
Change in deferred income taxes		702,222			108,483			810,705
Change in income taxes payable		-			32,698			32,698

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, Three Months Ended December 31, 2018
Earnings before income taxes		2,233,044		880,867		(1,352,177	)
Income tax provision		545,478		216,094		(329,384	)
Net earnings		1,687,567		664,773		(1,022,794	)

Net earnings per share:
Basic		0.24		0.09		(0.15	)
Diluted		0.24		0.09		(0.15	)

Consolidated Statement of Operations, Nine Months Ended December 31, 2018
Earnings before income taxes		5,782,409		8,289,004		2,506,595
Income tax provision		1,412,796		2,023,422		610,626
Net earnings		4,369,614		6,265,582		1,895,968

Net earnings per share:
Basic		0.62		0.89		0.27
Diluted		0.62		0.89		0.27