XML 27 R18.htm IDEA: XBRL DOCUMENT v2.4.1.9
Inventory
12 Months Ended
Feb. 28, 2015
Inventory  
Inventory

 

9. Inventory

        At February 28, 2015 and March 1, 2014, inventories were $997,528 and $1,018,581, respectively, lower than the amounts that would have been reported using the first-in, first-out ("FIFO") cost flow assumption. The Company calculates its FIFO inventory valuation using the retail method for store inventories and the cost method for distribution facility inventories. The Company recorded a LIFO credit for fiscal year 2015 of $18,857, compared to a LIFO charge of $104,142 for fiscal year 2014 and a LIFO credit of $147,882 for fiscal year 2013. During fiscal 2015, 2014 and 2013, a reduction in inventories related to working capital initiatives resulted in the liquidation of applicable LIFO inventory quantities carried at lower costs in prior years. This LIFO liquidation resulted in a $38,867, $13,894 and $4,316 cost of sales decrease, with a corresponding reduction to the adjustment to LIFO for fiscal 2015, fiscal 2014 and fiscal 2013, respectively.