Note 6 - Inventories

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Inventory Disclosure [Text Block]

6 . Inventories 

	March 31,		December 31,
	2018		2017
	(Unaudited)		(Audited)
Inventories consist of the following:
Raw materials	$	538,352	$	363,739
Work in process		74,914		39,004
Finished products		815,904		937,780
Total Inventories	$	1,429,170	$	1,340,523

Inventories are valued at the lower of cost and 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, 2018

and

December 31, 2017

are stated net of a reserve of

$20,000

,

for each period, for slow moving and obsolete inventory. At

March 31, 2018

and

December 31, 2017

the Company had an allowance of

$127,265

and

$127,768,

respectively, for possible outdated material returns.