XML 61 R11.htm IDEA: XBRL DOCUMENT

Inventories

12 Months Ended

Jun. 30, 2011

Inventories

Inventories consist of paper stock, editorial content, and books. Of total net inventory values, 46 percent at June 30, 2011, and 54 percent at June 30, 2010, were determined using the LIFO method. LIFO inventory expense (income) included in the Consolidated Statements of Earnings (Loss) was $3.7 million in fiscal 2011, $(4.6) million in fiscal 2010, and $(0.7) million in fiscal 2009.



June 30,	2011			2010
(In thousands)
Raw materials	$	15,633		$	16,773
Work in process	11,723			10,652
Finished goods	1,609			3,148
	28,965			30,573
Reserve for LIFO cost valuation	(7,436		)	(3,766		)
Inventories	$	21,529		$	26,807

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References+ Details