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Inventories

9 Months Ended

Oct. 29, 2011

6. Inventories

The Company currently utilizes the last-in, first-out (“LIFO”) method of accounting for inventories. The cumulative difference between replacement and current cost of inventory over stated LIFO value is $3.5 million as of October 29, 2011 and as of January 29, 2011. The estimated replacement cost of inventory is the current first-in, first-out (“FIFO”) value.

Inventory balances at October 29, 2011 and January 29, 2011 were as follows (in thousands):


	October 29, 2011			January 29, 2011
Inventories (at FIFO)	$	236,032		$	200,238
LIFO reserve		(3,496	)		(3,424	)

Net inventories	$	232,536		$	196,814

- 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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