Case 1: TJ International TJ International was founded in 1969 as Trus Joist International. The firm, a manufacturer of specialty building products, has its headquarters in Boise, Idaho. The company, through its partnership in the Trus Joist MacMillan joint venture, develops and manufactures engineered lumber. This product is a high-quality substitute for structural lumber and uses lower-grade wood and materials formerly considered waste. The company also is majority owner of the Outlook Window Partnership, which is a consortium of three wood and vinyl window manufacturers. Following is T J International's adapted income statement and information concerning inventories from its annual report. TJ International Sales $618,876,000 Cost of goods sold 475-476,000 Gross profit 143,400,000 Selling and administrative expenses 102,112,000 Income from operations 41,288,000 Other expense 24,712,000 Income before income tax 16,576,000 Income taxes 7,728,000 Net income $ 8,848,000