Inventories

9 Months Ended

Sep. 30, 2022

Notes

Inventories

6.  Inventories are stated at the lower of cost or net realizable value, cost being determined by the first-in, first-out method.

 A summary of inventories is as follows:

	September 30, 2022	December 31, 2021
Raw material	$       5,018,465	$       4,645,923
Work-in-process	3,143,844	2,181,457
Finished goods	2,395,163	2,304,400
Inventories, gross	10,557,472	9,131,780
Valuation reserves	(636,000)	(612,000)
Inventories, net	$       9,921,472	$       8,519,780