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Note 5 - Inventories

6 Months Ended

Sep. 30, 2014

5.	Inventories

Inventories consisted of the following:

		September 30, 2014			March 31, 2014
Aircraft parts and supplies		$	-		$	119,638
Ground support service parts			702,581			608,674
Ground equipment manufacturing:
	Raw materials		5,951,918			6,965,659
	Work in process		2,072,999			1,814,791
	Finished goods		629,003			3,486,269
Total inventories			9,356,501			12,995,031
Reserves			(438,380	)		(755,562	)
	Total, net of reserves	$	8,918,121		$	12,239,469

- 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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