Note 2 - Change in Accounting Principle (Tables)

12 Months Ended

Mar. 31, 2019

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, Fiscal Year Ended March 31, 2018
Cost of goods sold		112,905,381			(1,697,294	)		111,208,087
Income tax provision		1,307,890			522,597			1,830,487
Net earnings		2,759,404			1,174,697			3,934,101
Net earnings per share:
Basic		0.39			0.17			0.56
Diluted		0.39			0.17			0.56
Consolidated Statement of Cash Flows, Fiscal Year Ended March 31, 2018
Net earnings		2,759,404			1,174,697			3,934,101
Change in inventories		(3,120,782	)		(1,697,294	)		(4,818,076	)
Change in deferred income taxes		1,269,148			108,483			1,377,631
Change in income taxes payable		-			414,114			414,114
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, Fiscal Year Ended March 31, 2019
Earnings before income taxes		5,706,951		6,823,945		1,116,994
Income tax provision		1,451,937		1,724,021		272,084
Net earnings		4,255,014		5,099,924		844,910
Net earnings per share:
Basic		0.61		0.73		0.12
Diluted		0.61		0.73		0.12