Significant Accounting Policies [Text Block] | Note 2 Basis of Presentation: Reclassifications: None Fiscal Year: March 31. 2019” “2019” 52 March 31, 2019 2018” “2018” 52 April 1, 2018. Use of Estimates: Cash and Cash Equivalents: no Financial Instruments Segments and Related Information: one 2019 2018 2019 2018 Bedding, blankets and accessories $ 40,690 $ 43,486 Bibs, bath, developmental toy, feeding, baby care and disposable products 35,691 26,784 Total net sales $ 76,381 $ 70,270 Revenue Recognition: A provision for anticipated returns, which are based upon historical returns and claims, is provided through a reduction of net sales and cost of products sold in the reporting period within which the related sales are recorded. Actual returns and claims experienced in a future period may may The Company recognizes revenue associated with unredeemed store credits and gift certificates at the earlier of their redemption by customers, their expiration or when their likelihood of redemption becomes remote, which is generally two Revenue from sales made directly to consumers is recorded when the shipped products have been received by customers, and excludes sales taxes collected on behalf of governmental entities. Revenue from sales made to retailers is recorded when legal title has been passed to the customer based upon the terms of the customer’s purchase order, the Company’s sales invoice, or other associated relevant documents. Such terms usually stipulate that legal title will pass when the shipped products are no 60 Allowances Against Accounts Receivable: no Uncollectible Accounts: April 2, 2018, not For reporting periods that ended prior to April 2, 2018, September 18, 2017, 11 11 March 14, 2018, As described below in Note 3 2018 $218,000. Credit Concentration: March 31, 2019 $17.8 $407,000. $17.3 Other Accrued Liabilities: $407,000 March 31, 2019. $241,000 March 31, 2019 $6,000 $19,000. Inventory Valuation: first first The determination of the indirect charges and their allocation to the Company's finished goods inventories is complex and requires significant management judgment and estimates. If management made different judgments or utilized different estimates, then differences would result in the valuation of the Company's inventories and in the amount and timing of the Company's cost of products sold and the resulting net income for the reporting period. On a periodic basis, management reviews its inventory quantities on hand for obsolescence, physical deterioration, changes in price levels and the existence of quantities on hand which may not no may not may Royalty Payments: $5.2 $7.2 2019 2018, Depreciation and Amortization : three eight five twenty Valuation of Long-Lived Assets and Identifiable Intangible A s sets : may not Patent Costs: Purchase Price Allocations and the Resulting Goodwill: The amount of goodwill recorded in a business combination can vary significantly depending upon the values attributed to the assets acquired and liabilities assumed. Although goodwill has no not first not one If, after assessing the totality of events or circumstances described above, the Company determines that it is more likely than not may not Preparing a purchase price allocation requires estimating the fair values of assets acquired and liabilities assumed in a business combination, a process that requires the Company to make various assumptions. The most significant assumptions relate to the estimated fair values assigned to the assets acquired and liabilities assumed as of the acquisition date. The resulting estimated fair values assigned to assets acquired and liabilities assumed in a purchase price allocation can have a significant effect on results of operations in the future. A future impairment to goodwill would have no Provision for Income Taxes: The Company files income tax returns in the many jurisdictions in which it operates, including the U.S., several U.S. states and the People’s Republic of China. The statute of limitations varies by jurisdiction; tax years open to federal or state audit or other adjustment as of March 31, 2019 March 31, 2019, April 1, 2018, April 2, 2017, April 3, 2016, March 29, 2015, March 30, 2014, March 31, 2013, April 1, 2012 April 3, 2011. The Company’s policy is to recognize the effect that a change in enacted tax rates would have on net deferred income tax assets and liabilities in the period in which the tax rates are changed. On December 22, 2017, 21% January 1, 2018. 2018 April 1, 2018, 30.75% 2018. The Company’s policy is to provide for deferred income taxes based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates that will be in effect when the differences are expected to reverse. The Company recognized the effect of the TCJA on the Company’s net deferred income tax assets, which had previously been recorded based upon the pre-TCJA enacted composite federal, state and foreign income tax rate of approximately 37.5% 24.5%, $377,000 2018. Management evaluates items of income, deductions and credits reported on the Company’s various federal and state income tax returns filed and recognizes the effect of positions taken on those income tax returns only if those positions are more likely than not 740 10 25, 50% In evaluating the process regarding the calculation of the state portion of its income tax provision, the Company has taken a tax position that reflects opportunities for more favorable state apportionment percentages, which were applied to several prior fiscal years and to succeeding fiscal years. After considering all relevant information, the Company believes that the technical merits of this tax position would more likely than not 2019 2018 $87,000 $113,000, 21% $120,000 2018. The Company’s policy is to accrue interest expense and penalties as appropriate on any estimated unrecognized tax liabilities as a charge to interest expense in the Company’s consolidated statements of income. During fiscal years 2019 2018, $90,000 $96,000, No In December 2016, March 30, 2014, March 31, 2013, April 1, 2012 April 3, 2011. one not Advertising Costs: $1.3 2019 2018. Earnings Per Share: Recently Issued Accounting Standards: May 28, 2014, No. 2014 09, Revenue from Contracts wit h Customers (Topic 606 December 15, 2016, August 12, 2015 No. 2015 14, Revenue from Contracts with Customers (Topic 606 one No. 2014 09. No. 2014 09 April 2, 2018 ASU No. 2014 09 No. 2014 09 “Revenue Recognition,” “Allowances Against Accounts Receivable” “Uncollectible Accounts” 2 not On February 25, 2016, No. 2016 02, Leases (Topic 842 No. 2016 02, No. 2016 02 first December 15, 2018. When issued, ASU No. 2016 02 July 30, 2018 No. 2018 11, Leases (Topic 842 No. 2016 02. Although early adoption of ASU No. 2016 02 No. 2018 11 No. 2016 02 April 1, 2019. No. 2016 02 12 No. 2016 02 No. 2016 02, $1.9 On June 16, 2016, No. 2016 13, Financial Instruments – Credit Losses (Topic 326 not No. 2016 13 first December 15, 2019. may first December 15, 2018. not No. 2016 13 not No. 2016 13 The Company has determined that all other ASU’s issued which had become effective as of May 10, 2019, not |