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Inventories

9 Months Ended

Sep. 30, 2014

INVENTORIES

Inventories consisted of the following at September 30, 2014 and December 31, 2013:



	As of September 30,		As of December 31,
	2014		2013
Raw materials	$	984,727	$	1,190,079
Work in process	460,115		401,274
Finished goods	638,093		296,259
Total	$	2,082,935	$	1,887,612

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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