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Note 4 - Inventories
3 Months Ended
Mar. 31, 2017
Notes to Financial Statements  
Inventory Disclosure [Text Block]
4
.
Inventories 
 
    March 31,   December 31,
    2017   2016
    (Unaudited)   (Audited)
Inventories consist of the following:                
Raw materials   $
329,162
    $
349,383
 
Work in process    
81,863
     
24,214
 
Finished products    
852,221
     
882,216
 
    $
1,263,246
    $
1,255,813
 
 
Inventories are valued at the lower of cost or current net realizable value. Cost is determined using the average cost method, which approximates cost determined by the
first
-in,
first
-out (“FIFO”) method. Finished product inventories at
March
31,
2017
and
December
31,
2016
are stated net of a reserve of
$20,000
,
for each period, for slow moving and obsolete inventory. The Company has an allowance of
$99,060
for possible outdated material returns.