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Note 4 - Inventories

3 Months Ended

Sep. 30, 2012

4. Inventories

Inventories consisted of the following:

	September 30, 2012			March 31, 2012
Aircraft parts and supplies	$	119,637		$	119,638
Ground equipment manufacturing:
Raw materials		8,433,365			9,127,113
Work in process		4,630,758			4,363,789
Finished goods		1,531,371			1,705,268
Total inventories		14,715,131			15,315,808
Reserves		(790,853	)		(772,918	)
Total, net of reserves	$	13,924,278		$	14,542,890

- 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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