Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies

v2.4.1.9
Significant Accounting Policies
 3 Months Ended
Apr. 04, 2015
Accounting Policies [Abstract]  
Significant Accounting Policies
 
Inventories, consisting principally of appliances, are stated at the lower of cost, determined on a specific identification basis, or market and consist of:
 
April 4,
2015
 
January 3,
2015
Appliances held for resale
$
15,761

 
$
15,511

Processed metals from recycled appliances held for resale
253

 
571

Other
31

 
31

 
$
16,045

 
$
16,113



We provide estimated provisions for the obsolescence of our appliance inventories, including adjustments to market, based on various factors, including the age of such inventory and our management’s assessment of the need for such provisions.  We look at historical inventory agings and margin analysis in determining our provision estimate.  A revised cost basis is used once a provision for obsolescence is recorded.