The gross receipts derived from the sale of the following items shall be exempt from state and local Arkansas sales and use tax from 12:01 a.m. on the first Saturday in August to 11:59 p.m. the following Sunday each year:

1. (1) Clothing;
2. (2) Clothing accessory or equipment;
3. (3) School art supply;
4. (4) School instructional material; and
5. (5) School supply.