text: In fiscal 2011 and 2010, reductions in U.S. inventories, primarily in the bearings pool, resulted in the liquidation of LIFO inventory 
  quantities carried at lower costs prevailing in prior years. As a result, LIFO benefits reduced cost of goods sold by $5,300 and 
  $23,500 in fiscal 2011 and 2010, respectively. The LIFO reserves were reduced by the same amounts. If inventory levels had 
  remained constant with the prior year’s levels, instead of recording these benefits, the Company would have recorded LIFO expense 
  of $7,000 and $19,200 in fiscal 2011 and 2010, respectively. Therefore, the overall impact of LIFO layer liquidations increased gross 
  profit by $12,300 and $42,700 in fiscal 2011 and 2010, respectively. 
  
  NOTE 4: GOODWILL AND INTANGIBLES 
  
  The changes in the carrying amount of goodwill for the Service Center Based Distribution segment for the years ended June 30, 
  2012 and 2011 are as follows: 