Educational Development (EDUC) 10-K29 May 182018 FY Annual reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Feb. 28, 2018	May 23, 2018	Aug. 31, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	Educational Development Corp
Document Type	10-K
Current Fiscal Year End Date	--02-28
Entity Common Stock, Shares Outstanding		4,088,383
Entity Public Float			$ 32,691,300
Amendment Flag	false
Entity Central Index Key	31,667
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Feb. 28, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Feb. 28, 2018	Feb. 28, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 2,723,300	$ 699,200
Accounts receivable, less allowance for doubtful accounts and sales returns $675,600 (2018) and $675,000 (2017)	2,813,800	2,917,000
Inventories—Net	26,618,500	34,253,100
Prepaid expenses and other assets	1,142,000	695,200
Total current assets	33,297,600	38,564,500
INVENTORIES—Net	435,900	192,100
PROPERTY, PLANT AND EQUIPMENT—Net	27,860,500	27,034,300
DEFERRED INCOME TAXES—Net	0	128,000
OTHER ASSETS	26,900	61,400
TOTAL ASSETS	61,620,900	65,980,300
CURRENT LIABILITIES:
Accounts payable	12,469,000	17,565,300
Line of credit	0	4,882,900
Deferred revenues	693,000	633,100
Current maturities of long-term debt	881,200	898,500
Accrued salaries and commissions	2,007,900	1,379,700
Income taxes payable	1,798,800	1,519,400
Other current liabilities	3,300,900	3,218,200
Total current liabilities	21,150,800	30,097,100
LONG-TERM DEBT—Net of current maturities	19,825,100	20,665,800
DEFERRED INCOME TAXES—Net	136,900	0
OTHER LONG-TERM LIABILITIES	106,000	0
Total liabilities	41,218,800	50,762,900
COMMITMENTS (Note 8)
SHAREHOLDERS’ EQUITY:
Common stock, $0.20 par value; Authorized 8,000,000 shares; Issued 6,046,040 (2018) and 6,041,040 (2017) shares; Outstanding 4,089,806 (2018) and 4,090,074 (2017) shares	1,209,200	1,208,200
Capital in excess of par value	8,573,300	8,548,000
Retained earnings	21,532,500	16,317,800
	31,315,000	26,074,000
Less treasury stock, at cost	(10,912,900)	(10,856,600)
Total shareholders' equity	20,402,100	15,217,400
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 61,620,900	$ 65,980,300

BALANCE SHEETS (Parentheticals)

BALANCE SHEETS (Parentheticals) - USD ($)	Feb. 28, 2018	Feb. 28, 2017
Allowance for doubtful accounts and sales returns (in Dollars)	$ 675,600	$ 675,000
Common Stock, par value (in Dollars per share)	$ 0.20	$ 0.20
Common Stock, shares authorized	8,000,000	8,000,000
Common Stock, shares issued	6,046,040	6,041,040
Common Stock, shares outstanding	4,089,806	4,090,074

STATEMENTS OF EARNINGS

STATEMENTS OF EARNINGS - USD ($)	12 Months Ended
STATEMENTS OF EARNINGS - USD ($)	Feb. 28, 2018	Feb. 28, 2017
NET REVENUES	$ 111,966,100	$ 106,628,100
COST OF GOODS SOLD	30,931,300	28,613,500
Gross margin	81,034,800	78,014,600
OPERATING EXPENSES:
Operating and selling	22,571,200	23,070,000
Sales commissions	35,359,000	33,995,500
General and administrative	15,736,300	15,920,600
Impairment of asset	0	1,082,300
Total operating expenses	73,666,500	74,068,400
INTEREST EXPENSE	1,119,500	1,028,800
OTHER INCOME	(1,583,900)	(1,694,700)
EARNINGS BEFORE INCOME TAXES	7,832,700	4,612,100
INCOME TAXES	2,618,000	1,751,200
NET EARNINGS	$ 5,214,700	$ 2,860,900
BASIC AND DILUTED EARNINGS PER SHARE:
Basic (in Dollars per share)	$ 1.28	$ 0.70
Diluted (in Dollars per share)	$ 1.27	$ 0.70
WEIGHTED AVERAGE NUMBER OF COMMON AND EQUIVALENT SHARES OUTSTANDING:
Basic (in Shares)	4,087,998	4,077,695
Diluted (in Shares)	4,090,661	4,082,854
Dividends per share (in Dollars per share)	$ 0	$ 0.27
Gross Sales [Member]
REVENUES	$ 125,847,200	$ 124,958,900
Discounts and Allowances [Member]
WEIGHTED AVERAGE NUMBER OF COMMON AND EQUIVALENT SHARES OUTSTANDING:
Less discounts and allowances	(24,928,800)	(29,486,300)
Transportation Revenue [Member]
REVENUES	$ 11,047,700	$ 11,155,500

STATEMENTS OF SHAREHOLDERS' EQU

STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balance at Feb. 29, 2016	$ 1,208,200	$ 8,548,000	$ 14,557,500	$ (11,084,200)	$ 13,229,500
Balance (in Shares) at Feb. 29, 2016	6,041,040			1,976,430
Exercise of stock options (in Shares)					0
Purchases of treasury stock				$ (200)	$ (200)
Purchases of treasury stock (in Shares)				23
Sales of treasury stock				$ 227,800	227,800
Sales of treasury stock (in Shares)				(25,487)
Dividends paid			(1,100,600)		(1,100,600)
Net earnings			2,860,900		2,860,900
Balance at Feb. 28, 2017	$ 1,208,200	8,548,000	16,317,800	$ (10,856,600)	$ 15,217,400
Balance (in Shares) at Feb. 28, 2017	6,041,040			1,950,966	6,041,040
Exercise of stock options	$ 1,000	25,300			$ 26,300
Exercise of stock options (in Shares)	5,000				5,000
Purchases of treasury stock				$ (98,400)	$ (98,400)
Purchases of treasury stock (in Shares)				10,069
Sales of treasury stock				$ 42,100	42,100
Sales of treasury stock (in Shares)				(4,801)
Net earnings			5,214,700		5,214,700
Balance at Feb. 28, 2018	$ 1,209,200	$ 8,573,300	$ 21,532,500	$ (10,912,900)	$ 20,402,100
Balance (in Shares) at Feb. 28, 2018	6,046,040			1,956,234	6,046,040

STATEMENTS OF SHAREHOLDERS' EQ6

STATEMENTS OF SHAREHOLDERS' EQUITY (Parentheticals)	12 Months Ended
STATEMENTS OF SHAREHOLDERS' EQUITY (Parentheticals)	Feb. 28, 2017$ / shares
Retained Earnings [Member]
Dividends paid	$ 0.27

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
STATEMENTS OF CASH FLOWS - USD ($)	Feb. 28, 2018	Feb. 28, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 5,214,700	$ 2,860,900
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Impairment of asset	0	1,082,300
Depreciation	1,251,000	1,079,000
Deferred income taxes, net	264,900	221,100
Provision for doubtful accounts and sales returns	510,900	283,200
Provision for inventory valuation allowance	311,800	(25,000)
Changes in assets and liabilities:
Accounts receivable	(407,700)	(686,900)
Inventories, net	7,079,000	(16,771,700)
Prepaid expenses and other assets	(412,300)	533,500
Accounts payable, accrued salaries and commissions, and other liabilities	(4,918,900)	11,427,000
Deferred revenues	59,900	(2,292,100)
Income tax payable	279,400	716,300
Total adjustments	4,018,000	(4,433,300)
Net cash provided by (used in) operating activities	9,232,700	(1,572,400)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(1,437,700)	(2,485,400)
Net cash used in investing activities	(1,437,700)	(2,485,400)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on long-term debt	(1,877,000)	(738,500)
Proceeds from long-term debt	1,019,000	4,000,000
Cash received from sale of treasury stock	42,100	227,800
Cash used to purchase treasury stock	(98,400)	(200)
Proceeds from the issuance of stock options	26,300	0
Net borrowings (payments) under line of credit	(4,882,900)	1,551,100
Dividends paid	0	(1,466,900)
Net cash provided by (used in) financing activities	(5,770,900)	3,573,300
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	2,024,100	(484,500)
CASH AND CASH EQUIVALENTS—BEGINNING OF YEAR	699,200	1,183,700
CASH AND CASH EQUIVALENTS—END OF YEAR	2,723,300	699,200
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Cash paid for interest	1,116,500	1,005,200
Cash paid for income taxes	2,073,600	543,800
NON-CASH TRANSACTIONS:
Accrued capital expenditures	$ 639,500	$ 0

1. SUMMARY OF SIGNIFICANT ACCOU

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Feb. 28, 2018
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Business — Estimates — Reclassifications — Certain reclassifications have been made to the fiscal 2017 balance sheet and statement of earnings to conform to the classifications used in fiscal 2018. These reclassifications had no effect on net earnings. Business Concentration — Cash and Cash Equivalents — Accounts Receivable — Accounts receivable also include consignment inventory balances of inactive consultants as the Company considers these amounts to be collectable directly from the inactive consultants either through payment or the return of titles consigned. Management periodically reviews accounts receivable balances and, based on an assessment of historical bad debts, current customer receivable balances, age of customer receivable balances, customers’ financial conditions and current economic trends, estimates the portion of the balance that will not be collected. Management provides for probable uncollectible amounts through a charge to earnings and a credit to a valuation account based on its assessment of the current status of the individual accounts. Balances which remain outstanding after management has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. Recoveries of accounts receivable previously written off are recorded as income when received. Management has estimated an allowance for doubtful accounts and sales returns of $675,600 and $675,000 as of February 28, 2018 and 2017, respectively. Included within this allowance is $278,500 and $217,000 of reserve related to consignment inventory held by inactive consultants, $100,000 and $190,000 of reserve related to sales returns, and $93,900 and $98,500 of reserve for vendor discounts to sell remaining inventory as of February 28, 2018 and 2017, respectively. Inventories — Consultants that meet certain eligibility requirements are allowed to receive inventory on consignment. Consignment inventory is stated at cost, less an estimated reserve for consignment inventory that is not expected to be sold or returned to the Company. The total value of inventory on consignment with active consultants was $1,270,700 and $1,140,700 at February 28, 2018 and 2017, respectively. The Company has reserved for consignment inventory not expected to be sold or returned of $181,500 and $25,000 as of February 28, 2018 and 2017, respectively. Inventory related to inactive consultants is reclassified to accounts receivables and amounted to $278,500 and $309,000 at February 28, 2018 and 2017, respectively. Such inventory is subject to a reserve based on estimated amounts that will not be sold or returned. This reserve is included in the Allowance for Doubtful Accounts. Inventories are presented net of a valuation allowance, which includes reserves for inventory obsolescence and active consultant consignment inventory that is not expected to be sold or returned. Management estimates the allowance for both current and noncurrent inventory. The allowance is based on management’s identification of slow moving inventory and estimated consignment inventory that will not be sold or returned. Property, Plant and Equipment — Building 30 years Building improvements 10 – 15 years Machinery and equipment 3 – 15 years Furniture and fixtures 3 years Capitalized projects that are not placed in service are recorded as in progress and are not depreciated until the related assets are placed in service. Impairments of Long-Lived Assets — Income Taxes — Revenue Recognition — Sales are generally recognized and recorded when products are shipped. Products are shipped FOB shipping point. UBAM’s sales are generally paid at the time the product is ordered. Sales which have been paid for but not shipped are classified as deferred revenue on the balance sheet. Sales associated with consignment inventory are recognized when reported and payment associated with the sale has been remitted. Transportation revenue represents the amount billed to the customer for shipping the product and is recorded when the product is shipped. Estimated allowances for sales returns are recorded as sales are recognized. Management uses a moving average calculation to estimate the allowance for sales returns. We are not responsible for product damaged in transit or damaged at customer locations. It is industry practice to accept returns from retail customers for non-damaged products. Management has estimated and included a reserve for sales returns of $100,000 and $190,000 for the fiscal years ended February 28, 2018 and 2017, respectively. Advertising Costs — Shipping and Handling Costs — Interest Expense — Interest Expense — Earnings per Share — The computation of weighted average common and common equivalent shares used in the calculation of basic and diluted EPS is shown below. Year Ended February 28, 2018 2017 Earnings Per Share: Net earnings applicable to common shareholders $ 5,214,700 $ 2,860,900 Shares: Weighted average shares outstanding–basic 4,087,998 4,077,695 Assumed exercise of options 2,663 5,159 Weighted average shares outstanding–diluted 4,090,661 4,082,854 Diluted Earnings Per Share: Basic $ 1.28 $ 0.70 Diluted $ 1.27 $ 0.70 Stock-Based Compensation — New Accounting Pronouncements — In May 2014, FASB issued ASU No. 2014-09, and amended with ASU No. 2015-14 “Revenue from Contracts with Customers,” which provides a single revenue recognition model which is intended to improve comparability over a range of industries, companies and geographical boundaries and will also result in enhanced disclosures. The changes are effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, which means the first quarter of our fiscal year 2019. We do not expect the adoption of this ASU will have a significant impact on the Company’s financial position, results of operations and cash flows. In July 2015, FASB issued ASU No. 2015-11 "Inventory - Simplifying the Measurement of Inventory", which is intended to allow measurement of inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This ASU became effective for the Company on March 1, 2017. The adoption of this ASU did not have a material impact on the Company’s financial position, results of operations and cash flows. In November 2015, FASB issued ASU No. 2015-17, “Income Taxes - Balance Sheet Classification of Deferred Taxes,” which is intended to improve how deferred taxes are classified on organizations’ balance sheets by eliminating the current requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, organizations will now be required to classify all deferred tax assets and liabilities as noncurrent. The changes are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods, which means the first quarter of our fiscal year 2018. We have retrospectively implemented this new presentation in our financial statements. As of February 28, 2017, we reclassified $466,600 of current deferred tax assets to noncurrent assets and netted $338,600 of deferred tax liabilities against the balance on the balance sheet. The adoption of this ASU did not affect our statements of earnings. In February 2016, FASB issued ASU No. 2016-02, “Leases,” which is intended to establish a comprehensive new lease accounting model. The new standard clarifies the definition of a lease, requires a dual approach to lease classification similar to current lease classifications, and causes lessees to recognize leases on the balance sheet as a lease liability with a corresponding right-of-use asset. The new standard is effective for interim and annual periods beginning after December 15, 2018, which means the first quarter of our fiscal year 2020. The new standard requires a modified retrospective transition for capital or operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements. We are currently reviewing the ASU and evaluating the potential impact on our financial statements. In March 2016, FASB issued ASU No. 2016-09, “Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting,” which is intended to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This ASU became effective for the Company on March 1, 2017. The adoption of this ASU did not have a material impact on the Company's financial position, results of operations and cash flows. In June 2016, FASB issued ASU No. 2016-13 "Financial Instruments—Credit Losses", which requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The new standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, which means the first quarter of our fiscal year 2021. We expect the implementation of this ASU will not have a significant impact on our financial statements. In August 2016, FASB issued ASU No. 2016-15 “Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments.” The guidance's objective is to reduce diversity in practice of how certain cash receipts and cash payments are presented and classified in the statement of cash flow. The new standards required date of adoption is effective for fiscal years beginning after December 15, 2017, which means the first quarter of our fiscal year 2019. Adoption and restatement of the cash flow statement for the new standard is not expected to be material. In May 2017, FASB issued ASU 2017-09, “Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting.” This update amends the scope of modification accounting surrounding share-based payment arrangements as issued in ASU 2016-09 by providing guidance on the various types of changes which would trigger modification accounting for share-based payment awards. This ASU is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods, which means the first quarter of our fiscal year 2019. We do not expect the adoption of ASU 2017-09 to have a material effect on our financial position, results of operations and cash flows. On December 22, 2017, the Securities Exchange Commission staff issued Staff Accounting Bulletin No. 118 (“SAB 118”), which provides guidance on accounting for the tax effects of the Tax Cuts and Jobs Act of 2017 (“Tax Act”). SAB 118 provides for a measurement period that may not extend beyond one year from the Tax Act enactment date for companies to complete the required accounting under ASC 740. In accordance with SAB 118, a company must reflect, as of the end of the accounting period that includes the date of enactment of the Tax Act, only those income tax effects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that the company’s accounting for certain income tax effects of the Tax Act is incomplete, but the company is able to determine a reasonable estimate, the company must record a provisional estimate in the financial statements. If the company cannot determine a provisional estimate, it must continue to apply ASC 740 on the basis of the provisions of the tax law that were in effect immediately before the enactment of the Tax Act. At February 28, 2018, our accounting for the Tax Act is complete under SAB 118. Forthcoming guidance, such as regulations or technical corrections, could change how we interpreted provisions of the Tax Act.

2. INVENTORIES

2. INVENTORIES	12 Months Ended
2. INVENTORIES	Feb. 28, 2018
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	2. INVENTORIES Inventories consist of the following: February 28, 2018 2017 Current: Book inventory $ 26,800,000 $ 34,278,100 Inventory valuation allowance (181,500 ) (25,000 ) Inventories net–current $ 26,618,500 $ 34,253,100 Noncurrent: Book inventory $ 707,700 $ 467,100 Inventory valuation allowance (271,800 ) (275,000 ) Inventories net–noncurrent $ 435,900 $ 192,100

3. PROPERTY, PLANT AND EQUIPMEN

3. PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
3. PROPERTY, PLANT AND EQUIPMENT	Feb. 28, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	3. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following: February 28, 2018 2017 Land $ 4,107,200 $ 4,107,200 Building 20,321,800 20,321,800 Building improvements 1,758,800 1,692,500 Machinery and equipment 7,231,300 5,230,700 Furniture and fixtures 109,000 101,600 33,528,100 31,453,800 Less accumulated depreciation (5,667,600 ) (4,419,500 ) $ 27,860,500 $ 27,034,300 During fiscal year 2018, the Company purchased and installed new warehouse equipment and made software enhancements to increase its daily shipping capacity.

4. IMPAIRMENT

4. IMPAIRMENT	12 Months Ended
4. IMPAIRMENT	Feb. 28, 2018
Disclosure Text Block Supplement [Abstract]
Asset Impairment Charges [Text Block]	4. IMPAIRMENT Beginning in fiscal 2015, the Company began working with a third-party to develop an integrated direct-sales order system. This system was to be used by the Company’s independent sales consultants to assist them in order processing, payment collection, genealogy tracking, and commission reporting among other features. Our sales consultants started using the new system during the third quarter of fiscal 2017. During the fourth quarter of fiscal year 2017 it was concluded that the system was not fulfilling the needs of the direct-sales program. Management evaluated various alternatives, but ultimately concluded it was necessary to abandon the system as it became clear the third-party developer would be unable to get the system to operate as originally intended. As a result, we reverted to our original web-based proprietary system and recognized an impairment loss of $1.1 million, as it was determined that the system had no fair value as a result of being abandoned.

5. OTHER CURRENT LIABILITIES

5. OTHER CURRENT LIABILITIES	12 Months Ended
5. OTHER CURRENT LIABILITIES	Feb. 28, 2018
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Other Liabilities Disclosure [Text Block]	5. OTHER CURRENT LIABILITIES Other current liabilities consist of the following: February 28, 2018 2017 Accrued royalties $ 791,800 $ 721,600 Accrued UBAM incentives 633,800 1,180,400 Accrued freight 357,800 494,900 Sales tax payable 557,600 425,700 Other 959,900 395,600 $ 3,300,900 $ 3,218,200

6. INCOME TAXES

6. INCOME TAXES	12 Months Ended
6. INCOME TAXES	Feb. 28, 2018
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	6. INCOME TAXES Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The tax effects of significant items comprising our net deferred tax assets and liabilities are as follows: February 28, 2018 2017 Deferred tax assets: Allowance for doubtful accounts $ 149,600 $ 164,600 Inventory overhead capitalization 69,800 131,000 Inventory valuation allowance 47,200 9,500 Inventory valuation allowance – noncurrent 70,700 104,500 Allowance for sales returns 26,000 72,200 Capital loss carryforward 111,900 163,600 Accruals 141,700 89,300 Deferred tax assets 616,900 734,700 Less valuation allowance (111,900 ) (163,600 ) Subtotal deferred tax assets: 505,000 571,100 Deferred tax liabilities: Property, plant and equipment (641,900 ) (443,100 ) Deferred tax liabilities (641,900 ) (443,100 ) Net deferred income tax assets (liabilities) $ (136,900 ) $ 128,000 On December 22, 2017, President Trump signed into law the Tax Act. Among its provisions, the Tax Act reduces the statutory U.S. Corporate income tax rate from a maximum rate of 35% to 21% effective January 1, 2018. The Tax Act also provides for accelerated deductions of certain capital expenditures made after September 27, 2017 through bonus depreciation. Upon the enactment of the Tax Act, we recorded a reduction in our deferred income tax liabilities of $43,200 for the effect of the aforementioned change in the U.S. statutory income tax rate. The application of the Tax Act may change due to regulations subsequently issued by the U.S. Treasury Department. Management has assessed the evidence to estimate whether sufficient future capital gains will be generated to utilize the existing capital loss carryforward. As no current expectation of capital gains exists, management has determined that a valuation allowance is necessary to reduce the carrying value of the capital loss carryforward deferred tax asset as it is “more likely than not” that such assets are unrealizable. The amount of the deferred tax asset considered realizable, however, could be adjusted if future capital gains are generated during the carryforward period which ends February 28, 2019. Management has determined that no valuation allowance is necessary to reduce the carrying value of other deferred tax assets as it is “more likely than not” that such assets are realizable. The components of income tax expense are as follows: February 28, 2018 2017 Current: Federal $ 1,964,700 $ 1,267,600 State 388,400 262,500 2,353,100 1,530,100 Deferred: Federal 239,800 186,200 State 25,100 34,900 264,900 221,100 Total income tax expense $ 2,618,000 $ 1,751,200 The following reconciles our expected income tax rate to the U.S. federal statutory income tax rate: February 28, 2018 2017 U.S. federal statutory income tax rate 31.8 % 34.0 % U.S. state and local income taxes–net of federal benefit 4.0 % 4.0 % Other (2.4 %) 0.0 % Total income tax expense 33.4 % 38.0 % Our U.S. federal statutory income tax rate declined from 34.0% to 21.0% as of January 1, 2018. As our fiscal year ends February 28, 2018, our effective tax rate for fiscal 2018 was a blended rate of 31.8%. We file our tax returns in the U.S. and certain state jurisdictions. We are no longer subject to income tax examinations by tax authorities for fiscal years before 2013. Based upon a review of our income tax filing positions, we believe that our positions would be sustained upon an audit and do not anticipate any adjustments that would result in a material change to our financial position. Therefore, no reserves for uncertain income tax positions have been recorded. We classify interest and penalties associated with income taxes as a component of income tax expense on the statements of earnings.

7. EMPLOYEE BENEFIT PLAN

7. EMPLOYEE BENEFIT PLAN	12 Months Ended
7. EMPLOYEE BENEFIT PLAN	Feb. 28, 2018
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	7. EMPLOYEE BENEFIT PLAN We have a profit sharing plan that incorporates the provisions of Section 401(k) of the Internal Revenue Code. The 401(k) plan covers substantially all employees meeting specific age and length of service requirements. Matching contributions are discretionary and amounted to $89,400 and $61,200 during the fiscal years ended February 28, 2018 and 2017, respectively. The 401(k) plan includes an option for employees to invest in our stock, which is purchased from our treasury stock shares. Shares purchased for the 401(k) plan from treasury stock amounted to 4,801 net shares and 25,487 net shares during the fiscal years ended February 28, 2018 and 2017, respectively.

8. COMMITMENTS

8. COMMITMENTS	12 Months Ended
8. COMMITMENTS	Feb. 28, 2018
Disclosure Text Block Supplement [Abstract]
Commitments Disclosure [Text Block]	8. COMMITMENTS In connection with the purchase our 400,000 square-foot facility on 40-acres, in 2015, we entered into a 15-year lease with the seller, a non-related third party, who leases 181,300 square feet, or 45.3% of the facility. The lease is being accounted for as an operating lease. The cost of the leased space upon acquisition was estimated at $10,159,000, which was also the carrying cost as of February 28, 2018. The accumulated depreciation associated with the leased assets was $789,100 and $438,700 for the fiscal years ended February 28, 2018 and 2017, respectively. Both the leased assets and accumulated depreciation are included in property, plant and equipment-net in the balance sheets. The lessee pays $110,100 per month, through the lease anniversary date of December 2018, with a 2.0% annual increase adjustment on each anniversary date thereafter. The lease terms allow for one five-year extension, which is not a bargain renewal option, at the expiration of the 15-year term. Revenue associated with the lease is being recorded on a straight-line basis and is reported in other income on the statements of earnings. The following table reflects future minimum rental income payments under the non-cancellable portion of this lease as of February 28, 2018: Year Ending February 28 (29), 2019 $ 1,324,800 2020 1,351,300 2021 1,378,300 2022 1,405,900 2023 1,434,000 Thereafter 12,269,300 Total $ 19,163,600 At February 28, 2018, we had outstanding purchase commitments for inventory totaling approximately $18,906,600 which is due during fiscal year 2019. Of these commitments, $13,436,100 were with Usborne, $5,339,100 with various Kane Miller publishers and the remaining $131,400 with other suppliers. Rent expense for the year ended February 28, 2018 and 2017, was $53,400 and $69,500, respectively. As of February 28, 2018, we did not have any lease commitments in excess of one year.

9. DEBT

9. DEBT	12 Months Ended
9. DEBT	Feb. 28, 2018
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	9. DEBT Debt consists of the following: February 28, 2018 2017 Line of credit $ - $ 4,882,900 Long-term debt $ 20,706,300 $ 21,564,300 Less current maturities (881,200 ) (898,500 ) Long-term debt, net of current maturities $ 19,825,100 $ 20,665,800 We have a Loan Agreement dated as of March 10, 2016 (as amended the “Loan Agreement”) with MidFirst Bank (“the Bank”) which includes multiple loans. Term Loan #1 is comprised of Tranche A totaling $13.4 million and Tranche B totaling $5.0 million, both with the maturity date of December 1, 2025. Tranche A has a fixed interest rate of 4.23% and interest is payable monthly. Tranche B interest is payable monthly at the bank adjusted LIBOR Index plus a tiered pricing rate based on the Company’s Adjusted Funded Debt to EBITDA Ratio (4.70% at February 28, 2018). Term Loan #1 is secured by the primary office, warehouse and land. The outstanding borrowings on Tranche A were $12,453,300 and $12,902,800 at February 28, 2018 and 2017, respectively. The outstanding borrowings on Tranche B were $4,657,900 and $4,813,800 at February 28, 2018 and 2017, respectively. We also have Term Loan #2 with the Bank in the amount of $4.0 million with the maturity date of June 28, 2021, and interest payable The Tranche B, the line of credit and the Term Loan #2 all accrue interest at a tiered rate based on our Adjusted Funded Debt to EBITDA ratio which is payable monthly. The current pricing tier is as follows: Pricing Tier Adjusted Funded Debt to EBITDA Ratio LIBOR Margin (bps) I >3.00 350.50 II >2.50 but < 337.50 III >2.00 but < 325.00 IV < 312.50 Adjusted Funded Debt is defined as all long term and short-term bank debt less the outstanding balances of Tranche A and Tranche B Term Loans. EBITDA is defined in the Loan Agreement as earnings before interest expense, income tax expense (benefit) and depreciation and amortization expenses, reduced by rental income. The $15.0 million line of credit is limited to advance rates on eligible receivables and eligible inventory levels. The President and Chief Executive Officer and his wife have executed a Guaranty Agreement obligating them to repay $3,680,000 of any unpaid Term Loans, unpaid accrued interest and any recourse amounts as defined in the Continuing Guaranty Agreement. The Loan Agreement contains a provision for our use of the Bank’s letters of credit. The Bank agrees to issue, or obtain issuance of commercial or stand-by letters of credit provided that no letters of credit will have an expiry date later than June 15, 2018, and that the sum of the line of credit plus the letters of credit would not exceed the borrowing base in effect at the time. For the year ended February 28, 2018, we had no letters of credit outstanding. The Loan Agreement also contains provisions that require us to maintain specified financial ratios, restrict transactions with related parties, prohibit mergers or consolidation, disallow additional debt, and limit the amount of compensation, salaries, investments, capital expenditures, leasing transactions we can make on a quarterly basis. Additionally, the Loan Agreement places limitations on the amount of dividends that may be distributed and certain stock buyback transactions. The following table reflects aggregate future maturities of long-term debt during the next five fiscal years and thereafter as follows: Year ending February 28 (29), 2019 $ 881,200 2020 920,400 2021 959,000 2022 1,003,900 2023 1,048,600 Thereafter 15,893,200 $ 20,706,300

10. CAPITAL STOCK, STOCK OPTION

10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS	12 Months Ended
10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS	Feb. 28, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS The Board of Directors adopted the 2002 Incentive Stock Option Plan (the “2002 Plan”) in June of 2002. The 2002 Plan also authorized us to grant up to 1,000,000 stock options. Options granted under the 2002 Plan vest at date of grant and are exercisable up to ten years from the date of grant. The exercise price on options granted is equal to the market price at the date of grant. Options outstanding at February 28, 2018 expire in December 2019. A summary of the status of our 2002 Plan as of February 28, 2018 and 2017, and changes during the years then ended is presented below: February 28, 2018 2017 Weighted Weighted Average Average Exercise Exercise Shares Price Shares Price Outstanding at beginning of Year 10,000 $ 5.25 10,000 $ 5.25 Exercised 5,000 5.25 - - Expired - - - - Outstanding at End of Year 5,000 $ 5.25 10,000 $ 5.25 At February 28, 2018, all options outstanding are exercisable with an aggregate intrinsic value of $70,500 and weighted-average remaining contractual terms of options outstanding of 1.8 years.

11. QUARTERLY RESULTS OF OPERAT

11. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	12 Months Ended
11. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	Feb. 28, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Text Block]	11. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The following is a summary of the quarterly results of operations for the years ended February 28, 2018 and 2017. Basic Diluted Net Earnings Earnings Revenues Gross Margin Net Earnings Per Share Per Share 2018 First quarter $ 26,930,800 $ 19,506,000 $ 1,225,300 $ 0.30 $ 0.30 Second quarter 24,181,300 17,521,700 1,036,900 0.25 0.25 Third quarter 38,908,000 28,413,200 2,128,400 0.52 0.52 Fourth quarter 21,946,000 15,593,900 824,100 0.21 0.20 Total year $ 111,966,100 $ 81,034,800 $ 5,214,700 $ 1.28 $ 1.27 2017 First quarter $ 22,784,200 $ 16,110,400 $ 620,200 $ 0.15 $ 0.15 Second quarter 25,893,000 18,394,600 318,500 0.08 0.08 Third quarter 30,697,600 22,369,500 1,274,200 0.31 0.31 Fourth quarter 27,253,300 21,140,100 648,000 0.16 0.16 Total year $ 106,628,100 $ 78,014,600 $ 2,860,900 $ 0.70 $ 0.70

12. BUSINESS SEGMENTS

12. BUSINESS SEGMENTS	12 Months Ended
12. BUSINESS SEGMENTS	Feb. 28, 2018
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	12. BUSINESS SEGMENTS We have two reportable segments, Publishing and UBAM, which are business units that offer different methods of distribution to different types of customers. They are managed separately based on the fundamental differences in their operations. · Publishing markets its products to retail accounts, which include book, school supply, toy and gift stores and museums, through commissioned sales representatives, trade and specialty retailers and an internal tele-sales group. · UBAM markets its products through a network of independent sales consultants using a combination of home shows, internet shows, and book fairs. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. We evaluate segment performance based on earnings (loss) before income taxes of the segments, which is defined as segment net sales reduced by direct cost of sales and direct expenses. Corporate expenses, depreciation, interest expense, other income and income taxes are not allocated to the segments, but are listed in the “Other” row below. Corporate expenses include the executive department, accounting department, information services department, general office management and building facilities management. Our assets and liabilities are not allocated on a segment basis. Information by industry segment for the years ended February 28, 2018 and 2017 is set forth below: NET REVENUES 2018 2017 Publishing $ 8,267,500 $ 9,007,500 UBAM 103,698,600 97,620,600 Total $ 111,966,100 $ 106,628,100 EARNINGS (LOSS) BEFORE INCOME TAXES 2018 2017 Publishing $ 1,763,200 $ 2,566,400 UBAM 19,428,600 15,376,000 Other (13,359,100 ) (13,330,300 ) Total $ 7,832,700 $ 4,612,100

13. STOCK REPURCHASE PLAN

13. STOCK REPURCHASE PLAN	12 Months Ended
13. STOCK REPURCHASE PLAN	Feb. 28, 2018
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	13. STOCK REPURCHASE PLAN In April 2008, the Board of Directors authorized us to purchase up to an additional 500,000 shares of our common stock under the plan initiated in 1998. This plan has no expiration date. During fiscal year 2018, we purchased 6,525 shares of common stock at an average price of $9.73 per share totaling approximately $63,500. The maximum number of shares that may be repurchased in the future is 296,604.

14. FAIR VALUE MEASUREMENTS

14. FAIR VALUE MEASUREMENTS	12 Months Ended
14. FAIR VALUE MEASUREMENTS	Feb. 28, 2018
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	14. FAIR VALUE MEASUREMENTS The valuation hierarchy included in U.S. GAAP considers the transparency of inputs used to value assets and liabilities as of the measurement date. A financial instrument's classification within the valuation hierarchy is based on the lowest level of input that is significant to its fair value measurement. The three levels of the valuation hierarchy and the classification of our financial assets and liabilities within the hierarchy are as follows: Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 - Observable inputs other than quoted prices included within Level 1 for the asset or liability, either directly or indirectly. If an asset or liability has a specified term, a Level 2 input must be observable for substantially the full term of the asset or liability. Level 3 - Unobservable inputs for the asset or liability. We do not report any assets or liabilities at fair value in the financial statements. However, the estimated fair value of our line of credit is estimated by management to approximate the carrying value of $0 and $4,882,900 at February 28, 2018 and 2017, respectively. The estimated fair value of our term notes payable is estimated by management to approximate $19,454,500 and $20,130,100 at February 28, 2018 and 2017, respectively. Management's estimates are based on the obligations' characteristics, including floating interest rate, maturity, and collateral. Such valuation inputs are considered a Level 2 measurement in the fair value valuation hierarchy.

15. SUBSEQUENT EVENT

15. SUBSEQUENT EVENT	12 Months Ended
15. SUBSEQUENT EVENT	Feb. 28, 2018
Subsequent Events [Abstract]
Subsequent Events [Text Block]	15. SUBSEQUENT EVENTS On May 25, 2018, the Board of Directors of EDC approved a $.10 dividend that will be paid to shareholders of record on Monday, June 4, 2018.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
Accounting Policies, by Policy (Policies)	Feb. 28, 2018
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Nature of Business —
Use of Estimates, Policy [Policy Text Block]	Estimates —
Reclassification, Policy [Policy Text Block]	Reclassifications — Certain reclassifications have been made to the fiscal 2017 balance sheet and statement of earnings to conform to the classifications
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Business Concentration —
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents —
Receivables, Policy [Policy Text Block]	Accounts Receivable — Accounts receivable also include consignment inventory balances of inactive consultants as the Company considers these amounts to be collectable directly from the inactive consultants either through payment or the return of titles consigned. Management periodically reviews accounts receivable balances and, based on an assessment of historical bad debts, current customer receivable balances, age of customer receivable balances, customers’ financial conditions and current economic trends, estimates the portion of the balance that will not be collected. Management provides for probable uncollectible amounts through a charge to earnings and a credit to a valuation account based on its assessment of the current status of the individual accounts. Balances which remain outstanding after management has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. Recoveries of accounts receivable previously written off are recorded as income when received. Management has estimated an allowance for doubtful accounts and sales returns of $675,600 and $675,000 as of February 28, 2018 and 2017, respectively. Included within this allowance is $278,500 and $217,000 of reserve related to consignment inventory held by inactive consultants, $100,000 and $190,000 of reserve related to sales returns, and $93,900 and $98,500 of reserve for vendor discounts to sell remaining inventory as of February 28, 2018 and 2017, respectively.
Inventory, Policy [Policy Text Block]	Inventories — Consultants that meet certain eligibility requirements are allowed to receive inventory on consignment. Consignment inventory is stated at cost, less an estimated reserve for consignment inventory that is not expected to be sold or returned to the Company. The total value of inventory on consignment with active consultants was $1,270,700 and $1,140,700 at February 28, 2018 and 2017, respectively. The Company has reserved for consignment inventory not expected to be sold or returned of $181,500 and $25,000 as of February 28, 2018 and 2017, respectively. Inventory related to inactive consultants is reclassified to accounts receivables and amounted to $278,500 and $309,000 at February 28, 2018 and 2017, respectively. Such inventory is subject to a reserve based on estimated amounts that will not be sold or returned. This reserve is included in the Allowance for Doubtful Accounts. Inventories are presented net of a valuation allowance, which includes reserves for inventory obsolescence and active consultant consignment inventory that is not expected to be sold or returned. Management estimates the allowance for both current and noncurrent inventory. The allowance is based on management’s identification of slow moving inventory and estimated consignment inventory that will not be sold or returned.
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment — Building 30 years Building improvements 10 – 15 years Machinery and equipment 3 – 15 years Furniture and fixtures 3 years Capitalized projects that are not placed in service are recorded as in progress and are not depreciated until the related assets are placed in service.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairments of Long-Lived Assets —
Income Tax, Policy [Policy Text Block]	Income Taxes —
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition — Sales are generally recognized and recorded when products are shipped. Products are shipped FOB shipping point. UBAM’s sales are generally paid at the time the product is ordered. Sales which have been paid for but not shipped are classified as deferred revenue on the balance sheet. Sales associated with consignment inventory are recognized when reported and payment associated with the sale has been remitted. Transportation revenue represents the amount billed to the customer for shipping the product and is recorded when the product is shipped. Estimated allowances for sales returns are recorded as sales are recognized. Management uses a moving average calculation to estimate the allowance for sales returns. We are not responsible for product damaged in transit or damaged at customer locations. It is industry practice to accept returns from retail customers for non-damaged products. Management has estimated and included a reserve for sales returns of $100,000 and $190,000 for the fiscal years ended February 28, 2018 and 2017, respectively.
Advertising Costs, Policy [Policy Text Block]	Advertising Costs —
Shipping and Handling Cost, Policy [Policy Text Block]	Shipping and Handling Costs —
Interest Expense, Policy [Policy Text Block]	Interest Expense —
Earnings Per Share, Policy [Policy Text Block]	Earnings per Share — The computation of weighted average common and common equivalent shares used in the calculation of basic and diluted EPS is shown below. Year Ended February 28, 2018 2017 Earnings Per Share: Net earnings applicable to common shareholders $ 5,214,700 $ 2,860,900 Shares: Weighted average shares outstanding–basic 4,087,998 4,077,695 Assumed exercise of options 2,663 5,159 Weighted average shares outstanding–diluted 4,090,661 4,082,854 Diluted Earnings Per Share: Basic $ 1.28 $ 0.70 Diluted $ 1.27 $ 0.70
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation —
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements — In May 2014, FASB issued ASU No. 2014-09, and amended with ASU No. 2015-14 “Revenue from Contracts with Customers,” which provides a single revenue recognition model which is intended to improve comparability over a range of industries, companies and geographical boundaries and will also result in enhanced disclosures. The changes are effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, which means the first quarter of our fiscal year 2019. We do not expect the adoption of this ASU will have a significant impact on the Company’s financial position, results of operations and cash flows. In July 2015, FASB issued ASU No. 2015-11 "Inventory - Simplifying the Measurement of Inventory", which is intended to allow measurement of inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This ASU became effective for the Company on March 1, 2017. The adoption of this ASU did not have a material impact on the Company’s financial position, results of operations and cash flows. In November 2015, FASB issued ASU No. 2015-17, “Income Taxes - Balance Sheet Classification of Deferred Taxes,” which is intended to improve how deferred taxes are classified on organizations’ balance sheets by eliminating the current requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, organizations will now be required to classify all deferred tax assets and liabilities as noncurrent. The changes are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods, which means the first quarter of our fiscal year 2018. We have retrospectively implemented this new presentation in our financial statements. As of February 28, 2017, we reclassified $466,600 of current deferred tax assets to noncurrent assets and netted $338,600 of deferred tax liabilities against the balance on the balance sheet. The adoption of this ASU did not affect our statements of earnings. In February 2016, FASB issued ASU No. 2016-02, “Leases,” which is intended to establish a comprehensive new lease accounting model. The new standard clarifies the definition of a lease, requires a dual approach to lease classification similar to current lease classifications, and causes lessees to recognize leases on the balance sheet as a lease liability with a corresponding right-of-use asset. The new standard is effective for interim and annual periods beginning after December 15, 2018, which means the first quarter of our fiscal year 2020. The new standard requires a modified retrospective transition for capital or operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements. We are currently reviewing the ASU and evaluating the potential impact on our financial statements. In March 2016, FASB issued ASU No. 2016-09, “Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting,” which is intended to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This ASU became effective for the Company on March 1, 2017. The adoption of this ASU did not have a material impact on the Company's financial position, results of operations and cash flows. In June 2016, FASB issued ASU No. 2016-13 "Financial Instruments—Credit Losses", which requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The new standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, which means the first quarter of our fiscal year 2021. We expect the implementation of this ASU will not have a significant impact on our financial statements. In August 2016, FASB issued ASU No. 2016-15 “Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments.” The guidance's objective is to reduce diversity in practice of how certain cash receipts and cash payments are presented and classified in the statement of cash flow. The new standards required date of adoption is effective for fiscal years beginning after December 15, 2017, which means the first quarter of our fiscal year 2019. Adoption and restatement of the cash flow statement for the new standard is not expected to be material. In May 2017, FASB issued ASU 2017-09, “Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting.” This update amends the scope of modification accounting surrounding share-based payment arrangements as issued in ASU 2016-09 by providing guidance on the various types of changes which would trigger modification accounting for share-based payment awards. This ASU is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods, which means the first quarter of our fiscal year 2019. We do not expect the adoption of ASU 2017-09 to have a material effect on our financial position, results of operations and cash flows. On December 22, 2017, the Securities Exchange Commission staff issued Staff Accounting Bulletin No. 118 (“SAB 118”), which provides guidance on accounting for the tax effects of the Tax Cuts and Jobs Act of 2017 (“Tax Act”). SAB 118 provides for a measurement period that may not extend beyond one year from the Tax Act enactment date for companies to complete the required accounting under ASC 740. In accordance with SAB 118, a company must reflect, as of the end of the accounting period that includes the date of enactment of the Tax Act, only those income tax effects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that the company’s accounting for certain income tax effects of the Tax Act is incomplete, but the company is able to determine a reasonable estimate, the company must record a provisional estimate in the financial statements. If the company cannot determine a provisional estimate, it must continue to apply ASC 740 on the basis of the provisions of the tax law that were in effect immediately before the enactment of the Tax Act. At February 28, 2018, our accounting for the Tax Act is complete under SAB 118. Forthcoming guidance, such as regulations or technical corrections, could change how we interpreted provisions of the Tax Act.

1. SUMMARY OF SIGNIFICANT ACC24

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Feb. 28, 2018
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) [Line Items]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The computation of weighted average common and common equivalent shares used in the calculation of basic and diluted EPS is shown below. Year Ended February 28, 2018 2017 Earnings Per Share: Net earnings applicable to common shareholders $ 5,214,700 $ 2,860,900 Shares: Weighted average shares outstanding–basic 4,087,998 4,077,695 Assumed exercise of options 2,663 5,159 Weighted average shares outstanding–diluted 4,090,661 4,082,854 Diluted Earnings Per Share: Basic $ 1.28 $ 0.70 Diluted $ 1.27 $ 0.70
Property, Plant and Equipment, Estimated Useful Life [Member]
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) [Line Items]
Property, Plant and Equipment [Table Text Block]	Property, plant and equipment are stated at cost and depreciated on a straight-line basis over the estimated useful lives, as follows: Building 30 years Building improvements 10 – 15 years Machinery and equipment 3 – 15 years Furniture and fixtures 3 years

2. INVENTORIES (Tables)

2. INVENTORIES (Tables)	12 Months Ended
2. INVENTORIES (Tables)	Feb. 28, 2018
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories consist of the following: February 28, 2018 2017 Current: Book inventory $ 26,800,000 $ 34,278,100 Inventory valuation allowance (181,500 ) (25,000 ) Inventories net–current $ 26,618,500 $ 34,253,100
Schedule of Inventory, Noncurrent [Table Text Block]	Inventories consist of the following: Noncurrent: Book inventory $ 707,700 $ 467,100 Inventory valuation allowance (271,800 ) (275,000 ) Inventories net–noncurrent $ 435,900 $ 192,100

3. PROPERTY, PLANT AND EQUIPM26

3. PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
3. PROPERTY, PLANT AND EQUIPMENT (Tables)	Feb. 28, 2018
Property, Plant and Equipment [Member]
3. PROPERTY, PLANT AND EQUIPMENT (Tables) [Line Items]
Property, Plant and Equipment [Table Text Block]	Property, plant and equipment consist of the following: February 28, 2018 2017 Land $ 4,107,200 $ 4,107,200 Building 20,321,800 20,321,800 Building improvements 1,758,800 1,692,500 Machinery and equipment 7,231,300 5,230,700 Furniture and fixtures 109,000 101,600 33,528,100 31,453,800 Less accumulated depreciation (5,667,600 ) (4,419,500 ) $ 27,860,500 $ 27,034,300

5. OTHER CURRENT LIABILITIES (T

5. OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
5. OTHER CURRENT LIABILITIES (Tables)	Feb. 28, 2018
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Other Current Liabilities [Table Text Block]	Other current liabilities consist of the following: February 28, 2018 2017 Accrued royalties $ 791,800 $ 721,600 Accrued UBAM incentives 633,800 1,180,400 Accrued freight 357,800 494,900 Sales tax payable 557,600 425,700 Other 959,900 395,600 $ 3,300,900 $ 3,218,200

6. INCOME TAXES (Tables)

6. INCOME TAXES (Tables)	12 Months Ended
6. INCOME TAXES (Tables)	Feb. 28, 2018
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The tax effects of significant items comprising our net deferred tax assets and liabilities are as follows: February 28, 2018 2017 Deferred tax assets: Allowance for doubtful accounts $ 149,600 $ 164,600 Inventory overhead capitalization 69,800 131,000 Inventory valuation allowance 47,200 9,500 Inventory valuation allowance – noncurrent 70,700 104,500 Allowance for sales returns 26,000 72,200 Capital loss carryforward 111,900 163,600 Accruals 141,700 89,300 Deferred tax assets 616,900 734,700 Less valuation allowance (111,900 ) (163,600 ) Subtotal deferred tax assets: 505,000 571,100 Deferred tax liabilities: Property, plant and equipment (641,900 ) (443,100 ) Deferred tax liabilities (641,900 ) (443,100 ) Net deferred income tax assets (liabilities) $ (136,900 ) $ 128,000
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The components of income tax expense are as follows: February 28, 2018 2017 Current: Federal $ 1,964,700 $ 1,267,600 State 388,400 262,500 2,353,100 1,530,100 Deferred: Federal 239,800 186,200 State 25,100 34,900 264,900 221,100 Total income tax expense $ 2,618,000 $ 1,751,200
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The following reconciles our expected income tax rate to the U.S. federal statutory income tax rate: February 28, 2018 2017 U.S. federal statutory income tax rate 31.8 % 34.0 % U.S. state and local income taxes–net of federal benefit 4.0 % 4.0 % Other (2.4 %) 0.0 % Total income tax expense 33.4 % 38.0 %

8. COMMITMENTS (Tables)

8. COMMITMENTS (Tables)	12 Months Ended
8. COMMITMENTS (Tables)	Feb. 28, 2017
Disclosure Text Block Supplement [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The following table reflects future minimum rental income payments under the non-cancellable portion of this lease as of February 28, 2018: Year Ending February 28 (29), 2019 $ 1,324,800 2020 1,351,300 2021 1,378,300 2022 1,405,900 2023 1,434,000 Thereafter 12,269,300 Total $ 19,163,600

9. DEBT (Tables)

9. DEBT (Tables)	12 Months Ended
9. DEBT (Tables)	Feb. 28, 2018
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Debt consists of the following: February 28, 2018 2017 Line of credit $ - $ 4,882,900 Long-term debt $ 20,706,300 $ 21,564,300 Less current maturities (881,200 ) (898,500 ) Long-term debt, net of current maturities $ 19,825,100 $ 20,665,800
Schedule of Long-term Debt Instruments [Table Text Block]	The Tranche B, the line of credit and the Term Loan #2 all accrue interest at a tiered rate based on our Adjusted Funded Debt to EBITDA ratio which is payable monthly. The current pricing tier is as follows: Pricing Tier Adjusted Funded Debt to EBITDA Ratio LIBOR Margin (bps) I >3.00 350.50 II >2.50 but < 337.50 III >2.00 but < 325.00 IV < 312.50
Schedule of Maturities of Long-term Debt [Table Text Block]	The following table reflects aggregate future maturities of long-term debt during the next five fiscal years and thereafter as follows: Year ending February 28 (29), 2019 $ 881,200 2020 920,400 2021 959,000 2022 1,003,900 2023 1,048,600 Thereafter 15,893,200 $ 20,706,300

10. CAPITAL STOCK, STOCK OPTI31

10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS (Tables)	12 Months Ended
10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS (Tables)	Feb. 28, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation, Stock Options, Activity [Table Text Block]	A summary of the status of our 2002 Plan as of February 28, 2018 and 2017, and changes during the years then ended is presented below: February 28, 2018 2017 Weighted Weighted Average Average Exercise Exercise Shares Price Shares Price Outstanding at beginning of Year 10,000 $ 5.25 10,000 $ 5.25 Exercised 5,000 5.25 - - Expired - - - - Outstanding at End of Year 5,000 $ 5.25 10,000 $ 5.25

11. QUARTERLY RESULTS OF OPER32

11. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)	12 Months Ended
11. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)	Feb. 28, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Table Text Block]	The following is a summary of the quarterly results of operations for the years ended February 28, 2018 and 2017. Basic Diluted Net Earnings Earnings Revenues Gross Margin Net Earnings Per Share Per Share 2018 First quarter $ 26,930,800 $ 19,506,000 $ 1,225,300 $ 0.30 $ 0.30 Second quarter 24,181,300 17,521,700 1,036,900 0.25 0.25 Third quarter 38,908,000 28,413,200 2,128,400 0.52 0.52 Fourth quarter 21,946,000 15,593,900 824,100 0.21 0.20 Total year $ 111,966,100 $ 81,034,800 $ 5,214,700 $ 1.28 $ 1.27 2017 First quarter $ 22,784,200 $ 16,110,400 $ 620,200 $ 0.15 $ 0.15 Second quarter 25,893,000 18,394,600 318,500 0.08 0.08 Third quarter 30,697,600 22,369,500 1,274,200 0.31 0.31 Fourth quarter 27,253,300 21,140,100 648,000 0.16 0.16 Total year $ 106,628,100 $ 78,014,600 $ 2,860,900 $ 0.70 $ 0.70

12. BUSINESS SEGMENTS (Tables)

12. BUSINESS SEGMENTS (Tables)	12 Months Ended
12. BUSINESS SEGMENTS (Tables)	Feb. 28, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Information by industry segment for the years ended February 28, 2018 and 2017 is set forth below: NET REVENUES 2018 2017 Publishing $ 8,267,500 $ 9,007,500 UBAM 103,698,600 97,620,600 Total $ 111,966,100 $ 106,628,100 EARNINGS (LOSS) BEFORE INCOME TAXES 2018 2017 Publishing $ 1,763,200 $ 2,566,400 UBAM 19,428,600 15,376,000 Other (13,359,100 ) (13,330,300 ) Total $ 7,832,700 $ 4,612,100

1. SUMMARY OF SIGNIFICANT ACC34

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Payments for (Proceeds from) Other Investing Activities	$ 24,500,000	$ 45,400,000
Cash, FDIC Insured Amount	250,000
Allowance for Doubtful Accounts Receivable	675,600	675,000
Other Inventory, Materials, Supplies and Merchandise under Consignment, Gross	1,270,700	1,140,700
Inventory Valuation Reserves	181,500	25,000
Increase (Decrease) in Accounts and Other Receivables	278,500	309,000
Asset Impairment Charges	0	1,082,300
Revenue Recognition, Sales Returns, Reserve for Sales Returns	100,000	190,000
Advertising Expense	546,600	266,400
Cost of Goods and Services Sold	30,931,300	28,613,500
Interest Expense	1,119,500	1,028,800
Deferred Tax Assets, Net, Current		466,600
Deferred Tax Liabilities, Gross, Current		338,600
Usborne Books and More [Member]
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Payments for (Proceeds from) Other Investing Activities	15,100,000	34,800,000
Accounts Payable, Other, Current	5,300,000
Consignment Inventory Held by Inactive Consultants [Member]
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Allowance for Doubtful Accounts Receivable	278,500	217,000
Sales Returns and Allowances [Member]
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Allowance for Doubtful Accounts Receivable	100,000	190,000
Inventory Vendor Discounts [Member]
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Allowance for Doubtful Accounts Receivable	93,900	98,500
Shipping and Handling [Member]
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Cost of Goods and Services Sold	$ 15,990,800	$ 16,637,500

1. SUMMARY OF SIGNIFICAN

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Property, Plant and Equipment	12 Months Ended
	Feb. 28, 2018
Building [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	30 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	3 years
Minimum [Member] \| Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	10 years
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	3 years
Maximum [Member] \| Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	15 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	15 years

1. SUMMARY OF SIGNIFIC36

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Diluted Earnings Per Share - USD ($)	3 Months Ended								12 Months Ended
	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2017	May 31, 2017	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 28, 2018	Feb. 28, 2017
Earnings Per Share:
Net earnings applicable to common shareholders (in Dollars)									$ 5,214,700	$ 2,860,900
Shares:
Weighted average shares outstanding–basic									4,087,998	4,077,695
Assumed exercise of options									2,663	5,159
Weighted average shares outstanding–diluted									4,090,661	4,082,854
Diluted Earnings Per Share:
Basic (in Dollars per share)	$ 0.21	$ 0.52	$ 0.25	$ 0.30	$ 0.16	$ 0.31	$ 0.08	$ 0.15	$ 1.28	$ 0.70
Diluted (in Dollars per share)	$ 0.20	$ 0.52	$ 0.25	$ 0.30	$ 0.16	$ 0.31	$ 0.08	$ 0.15	$ 1.27	$ 0.70

2. INVENTORIES (Details

2. INVENTORIES (Details) - Schedule of Inventory, Current - USD ($)	Feb. 28, 2018	Feb. 28, 2017
Current:
Book inventory	$ 26,800,000	$ 34,278,100
Inventory valuation allowance	(181,500)	(25,000)
Inventories net–current	$ 26,618,500	$ 34,253,100

2. INVENTORIES (Detai38

2. INVENTORIES (Details) - Schedule of Inventory, Noncurrent - USD ($)	Feb. 28, 2018	Feb. 28, 2017
Noncurrent:
Book inventory	$ 707,700	$ 467,100
Inventory valuation allowance	(271,800)	(275,000)
Inventories net–noncurrent	$ 435,900	$ 192,100

3. PROPERTY, PLANT AND E

3. PROPERTY, PLANT AND EQUIPMENT (Details) - Schedule of Property, Plant and Equipment - USD ($)	Feb. 28, 2018	Feb. 28, 2017
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 33,528,100	$ 31,453,800
Less accumulated depreciation	(5,667,600)	(4,419,500)
Property, Plant and Equipment, Net	27,860,500	27,034,300
Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	4,107,200	4,107,200
Building [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	20,321,800	20,321,800
Less accumulated depreciation	(789,100)	(438,700)
Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	1,758,800	1,692,500
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	7,231,300	5,230,700
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 109,000	$ 101,600

4. IMPAIRMENT (Details)

4. IMPAIRMENT (Details) - USD ($)	12 Months Ended
4. IMPAIRMENT (Details) - USD ($)	Feb. 28, 2018	Feb. 28, 2017
Disclosure Text Block Supplement [Abstract]
Asset Impairment Charges	$ 0	$ 1,082,300

5. OTHER CURRENT LIABILI

5. OTHER CURRENT LIABILITIES (Details) - Schedule of Other Current Liabilities - USD ($)	Feb. 28, 2018	Feb. 28, 2017
Schedule of Other Current Liabilities [Abstract]
Accrued royalties	$ 791,800	$ 721,600
Accrued UBAM incentives	633,800	1,180,400
Accrued freight	357,800	494,900
Sales tax payable	557,600	425,700
Other	959,900	395,600
	$ 3,300,900	$ 3,218,200

6. INCOME TAXES (Details)

6. INCOME TAXES (Details) - USD ($)	Jan. 01, 2018	Dec. 22, 2017	Feb. 28, 2018	Feb. 28, 2017
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	35.00%	31.80%	34.00%
Increase (Decrease) in Deferred Income Taxes (in Dollars)			$ (43,200)

6. INCOME TAXES (Detail

6. INCOME TAXES (Details) - Schedule of Deferred Tax Assets and Liabilities - USD ($)	Feb. 28, 2018	Feb. 28, 2017
Schedule of Deferred Tax Assets and Liabilities [Abstract]
Allowance for doubtful accounts	$ 149,600	$ 164,600
Inventory overhead capitalization	69,800	131,000
Inventory valuation allowance	47,200	9,500
Inventory valuation allowance – noncurrent	70,700	104,500
Allowance for sales returns	26,000	72,200
Capital loss carryforward	111,900	163,600
Accruals	141,700	89,300
Deferred tax assets	616,900	734,700
Less valuation allowance	(111,900)	(163,600)
Subtotal deferred tax assets:	505,000	571,100
Property, plant and equipment	(641,900)	(443,100)
Deferred tax liabilities	(641,900)	(443,100)
Net deferred income tax assets (liabilities)	$ (136,900)	$ 128,000

6. INCOME TAXES (Deta44

6. INCOME TAXES (Details) - Schedule of Components of Income Tax Expense (Benefit) - USD ($)	12 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
Current:
Federal	$ 1,964,700	$ 1,267,600
State	388,400	262,500
	2,353,100	1,530,100
Deferred:
Federal	239,800	186,200
State	25,100	34,900
	264,900	221,100
Total income tax expense	$ 2,618,000	$ 1,751,200

6. INCOME TAXES (Deta45

6. INCOME TAXES (Details) - Schedule of Effective Income Tax Rate Reconciliation	Jan. 01, 2018	Dec. 22, 2017	Feb. 28, 2018	Feb. 28, 2017
Schedule of Effective Income Tax Rate Reconciliation [Abstract]
U.S. federal statutory income tax rate	21.00%	35.00%	31.80%	34.00%
U.S. state and local income taxes–net of federal benefit			4.00%	4.00%
Other			(2.40%)	0.00%
Total income tax expense			33.40%	38.00%

7. EMPLOYEE BENEFIT PLAN (Detai

7. EMPLOYEE BENEFIT PLAN (Details) - 401(k) Plan [Member] - USD ($)	12 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
7. EMPLOYEE BENEFIT PLAN (Details) [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 89,400	$ 61,200
Stock Issued During Period, Shares, Treasury Stock Reissued	4,801	25,487

8. COMMITMENTS (Details)

8. COMMITMENTS (Details)	12 Months Ended
8. COMMITMENTS (Details)	Feb. 28, 2018USD ($)ft²a	Feb. 28, 2017USD ($)
8. COMMITMENTS (Details) [Line Items]
Area of Real Estate Property (in Square Feet) \| ft²	400,000
Area of Land (in Acres) \| a	40
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 5,667,600	$ 4,419,500
Operating Leases, Rent Expense	$ 53,400	69,500
Building [Member]
8. COMMITMENTS (Details) [Line Items]
Area of Real Estate Property (in Square Feet) \| ft²	181,300
Lessee, Operating Lease, Term of Contract	15 years
Area of Real Estate, Percentage Leased	45.30%
Buildings and Improvements, Gross	$ 10,159,000
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 789,100	$ 438,700
Description of Lessee Leasing Arrangements, Operating Leases	The lessee pays $110,100 per month, through the lease anniversary date of December 2018, with a 2.0% annual increase adjustment on each anniversary date thereafter.
Operating Leases, Rent Expense, Minimum Rentals	$ 110,100
Lessee, Operating Lease, Renewal Term	5 years
Inventory [Member]
8. COMMITMENTS (Details) [Line Items]
Purchase Commitment, Remaining Minimum Amount Committed	$ 18,906,600
Inventory [Member] \| Usborne Books and More [Member]
8. COMMITMENTS (Details) [Line Items]
Purchase Commitment, Remaining Minimum Amount Committed	13,436,100
Inventory [Member] \| Kane Miller [Member]
8. COMMITMENTS (Details) [Line Items]
Purchase Commitment, Remaining Minimum Amount Committed	5,339,100
Inventory [Member] \| Other Suppliers [Member]
8. COMMITMENTS (Details) [Line Items]
Purchase Commitment, Remaining Minimum Amount Committed	$ 131,400

8. COMMITMENTS (Details) - Sche

8. COMMITMENTS (Details) - Schedule of Future Minimum Rental Payments for Operating Leases	Feb. 28, 2018USD ($)
Schedule of Future Minimum Rental Payments for Operating Leases [Abstract]
2,019	$ 1,324,800
2,020	1,351,300
2,021	1,378,300
2,022	1,405,900
2,023	1,434,000
Thereafter	12,269,300
Total	$ 19,163,600

9. DEBT (Details)

9. DEBT (Details) - USD ($)	Dec. 01, 2015	Feb. 28, 2018	Feb. 28, 2017
9. DEBT (Details) [Line Items]
Long-term Debt		$ 20,706,300	$ 21,564,300
Long-term Line of Credit		0	4,882,900
Line of Credit Facility, Remaining Borrowing Capacity			2,117,100
Line of Credit [Member]
9. DEBT (Details) [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity		9,424,000
Term Loan # 2 [Member]
9. DEBT (Details) [Line Items]
Long-term Debt		3,595,100	3,847,700
Guarantor Obligations, Current Carrying Value		3,680,000
Term Loan # 2 [Member] \| Line of Credit [Member]
9. DEBT (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		15,000,000
Notes Payable to Banks [Member] \| Tranche A [Member]
9. DEBT (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 13,400,000
Line of Credit Facility, Expiration Date	Jun. 15, 2018
Debt Instrument, Interest Rate, Stated Percentage	4.23%
Debt Instrument, Payment Terms	interest is payable monthly
Long-term Debt		$ 12,453,300	12,902,800
Notes Payable to Banks [Member] \| Tranche B [Member]
9. DEBT (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000,000
Line of Credit Facility, Expiration Date	Dec. 1, 2025
Debt Instrument, Payment Terms		interest payable monthly at the bank adjusted LIBOR Index plus a tiered pricing rate based on the Company’s Adjusted Funded Debt to EBITDA Ratio
Debt Instrument, Interest Rate During Period		4.70%
Long-term Debt		$ 4,657,900	$ 4,813,800
Notes Payable to Banks [Member] \| Term Loan # 2 [Member]
9. DEBT (Details) [Line Items]
Debt Instrument, Face Amount		$ 4,000,000
Debt Instrument, Maturity Date		Jun. 28, 2021
London Interbank Offered Rate (LIBOR) [Member] \| Term Loan # 2 [Member] \| Line of Credit [Member]
9. DEBT (Details) [Line Items]
Line of Credit Facility, Interest Rate at Period End		4.70%
London Interbank Offered Rate (LIBOR) [Member] \| Notes Payable to Banks [Member] \| Term Loan # 2 [Member]
9. DEBT (Details) [Line Items]
Debt Instrument, Interest Rate During Period		4.70%

9. DEBT (Details)

9. DEBT (Details) - Schedule of Debt - USD ($)	Feb. 28, 2018	Feb. 28, 2017
Schedule of Debt [Abstract]
Line of credit	$ 0	$ 4,882,900
Long-term debt	20,706,300	21,564,300
Less current maturities	(881,200)	(898,500)
Long-term debt, net of current maturities	$ 19,825,100	$ 20,665,800

9. DEBT (Detail51

9. DEBT (Details) - Schedule of Long-term Debt Instruments	12 Months Ended
9. DEBT (Details) - Schedule of Long-term Debt Instruments	Feb. 28, 2018
Pricing Tier I [Member]
Debt Instrument [Line Items]
Adjusted Funded Debt to EBITDA Ratio	>3.00
Pricing Tier II [Member]
Debt Instrument [Line Items]
Adjusted Funded Debt to EBITDA Ratio	>2.50 but <3.00
Pricing Tier III [Member]
Debt Instrument [Line Items]
Adjusted Funded Debt to EBITDA Ratio	>2.00 but <2.50
Pricing Tier IV [Member]
Debt Instrument [Line Items]
Adjusted Funded Debt to EBITDA Ratio	<2.00
London Interbank Offered Rate (LIBOR) [Member] \| Pricing Tier I [Member]
Debt Instrument [Line Items]
LIBOR Margin	350.50%
London Interbank Offered Rate (LIBOR) [Member] \| Pricing Tier II [Member]
Debt Instrument [Line Items]
LIBOR Margin	337.50%
London Interbank Offered Rate (LIBOR) [Member] \| Pricing Tier III [Member]
Debt Instrument [Line Items]
LIBOR Margin	325.00%
London Interbank Offered Rate (LIBOR) [Member] \| Pricing Tier IV [Member]
Debt Instrument [Line Items]
LIBOR Margin	312.50%

9. DEBT (Detail52

9. DEBT (Details) - Schedule of Maturities of Long-term Debt - USD ($)	Feb. 28, 2018	Feb. 28, 2017
Schedule of Maturities of Long-term Debt [Abstract]
2,019	$ 881,200
2,020	920,400
2,021	959,000
2,022	1,003,900
2,023	1,048,600
Thereafter	15,893,200
	$ 20,706,300	$ 21,564,300

10. CAPITAL STOCK, STOCK OPTI53

10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS (Details) - 2002 Plan [Member] - USD ($)	1 Months Ended	12 Months Ended
	Jun. 30, 2002	Feb. 28, 2018
10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares)	1,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award	exercise price on options granted is equal to the market price at the date of grant
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value (in Dollars)		$ 70,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term		1 year 292 days
Maximum [Member]
10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	10 years

10. CAPITAL STOCK, STOCK

10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS (Details) - Schedule of Stock Option Activity - $ / shares	12 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
Schedule of Stock Option Activity [Abstract]
Outstanding at beginning of Year	10,000	10,000
Outstanding at beginning of Year	$ 5.25	$ 5.25
Exercised	5,000	0
Exercised	$ 5.25	$ 0
Expired	0	0
Expired	$ 0	$ 0
Outstanding at End of Year	5,000	10,000
Outstanding at End of Year	$ 5.25	$ 5.25

11. QUARTERLY RESULTS OF O

11. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Details) - Schedule of Quarterly Financial Information - USD ($)	3 Months Ended								12 Months Ended
	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2017	May 31, 2017	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 28, 2018	Feb. 28, 2017
Schedule of Quarterly Financial Information [Abstract]
Net Revenues	$ 21,946,000	$ 38,908,000	$ 24,181,300	$ 26,930,800	$ 27,253,300	$ 30,697,600	$ 25,893,000	$ 22,784,200	$ 111,966,100	$ 106,628,100
Gross Margin	15,593,900	28,413,200	17,521,700	19,506,000	21,140,100	22,369,500	18,394,600	16,110,400	81,034,800	78,014,600
Net Earnings	$ 824,100	$ 2,128,400	$ 1,036,900	$ 1,225,300	$ 648,000	$ 1,274,200	$ 318,500	$ 620,200	$ 5,214,700	$ 2,860,900
Basic Earnings Per Share (in Dollars per share)	$ 0.21	$ 0.52	$ 0.25	$ 0.30	$ 0.16	$ 0.31	$ 0.08	$ 0.15	$ 1.28	$ 0.70
Diluted Earnings Per Share (in Dollars per share)	$ 0.20	$ 0.52	$ 0.25	$ 0.30	$ 0.16	$ 0.31	$ 0.08	$ 0.15	$ 1.27	$ 0.70

12. BUSINESS SEGMENTS (Details)

12. BUSINESS SEGMENTS (Details)	12 Months Ended
12. BUSINESS SEGMENTS (Details)	Feb. 28, 2017
Segment Reporting [Abstract]
Number of Reportable Segments	2

12. BUSINESS SEGMENTS (De

12. BUSINESS SEGMENTS (Details) - Schedule of Information by Industry Segment - USD ($)	3 Months Ended								12 Months Ended
	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2017	May 31, 2017	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 28, 2018	Feb. 28, 2017
Segment Reporting Information [Line Items]
Net Revenues	$ 21,946,000	$ 38,908,000	$ 24,181,300	$ 26,930,800	$ 27,253,300	$ 30,697,600	$ 25,893,000	$ 22,784,200	$ 111,966,100	$ 106,628,100
Earnings (Loss) Before Income Taxes									7,832,700	4,612,100
Publishing [Member]
Segment Reporting Information [Line Items]
Net Revenues									8,267,500	9,007,500
Earnings (Loss) Before Income Taxes									1,763,200	2,566,400
Usborne Books and More [Member]
Segment Reporting Information [Line Items]
Net Revenues									103,698,600	97,620,600
Earnings (Loss) Before Income Taxes									19,428,600	15,376,000
Other Segments [Member]
Segment Reporting Information [Line Items]
Earnings (Loss) Before Income Taxes									$ (13,359,100)	$ (13,330,300)

13. STOCK REPURCHASE PLAN (Deta

13. STOCK REPURCHASE PLAN (Details) - USD ($)	12 Months Ended
13. STOCK REPURCHASE PLAN (Details) - USD ($)	Feb. 28, 2018	Apr. 30, 2008
Stockholders' Equity Note [Abstract]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased		500,000
Stock Repurchased During Period, Shares	6,525
Stock Repurchased During Period, Average Price Paid (in Dollars per share)	$ 9.73
Stock Repurchased During Period, Value (in Dollars)	$ 63,500
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	296,604

14. FAIR VALUE MEASUREMENTS (De

14. FAIR VALUE MEASUREMENTS (Details) - Fair Value, Inputs, Level 2 [Member] - USD ($)	Feb. 28, 2018	Feb. 28, 2017
14. FAIR VALUE MEASUREMENTS (Details) [Line Items]
Lines of Credit, Fair Value Disclosure	$ 0	$ 4,882,900
Long-term Debt, Fair Value	$ 19,454,500	$ 20,130,100

15. SUBSEQUENT EVENT (Details)

15. SUBSEQUENT EVENT (Details) - Subsequent Event [Member]	May 24, 2018$ / shares
15. SUBSEQUENT EVENT (Details) [Line Items]
Dividends Payable, Date Declared	May 25, 2018
Common Stock, Dividends, Per Share, Cash Paid	$ 0.10
Dividends Payable, Date to be Paid	Jun. 4, 2018