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Inventories

3 Months Ended

Apr. 30, 2014

Inventories

Inventories consist of the following:

	April 30, 2014		January 31, 2014

Raw materials	$	16,849,408	$	16,348,861
Work-in-process		1,417,790		1,292,740
Finished goods		22,103,300		22,202,708
	$	40,370,498	$	39,844,309

Inventories include freight-in, materials, labor and overhead costs and are stated at the lower of cost (on a first-in, first-out basis) or market.

- 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.

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