Note 4 - Inventory

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Inventory Disclosure [Text Block]

4.

 

INVENTORY

Inventory is valued at the lower of cost (

first

-in,

first

-out) or net realizable value and consists of:

	March 31, 2021		December 31, 2020
Raw materials and component parts	$	3,914,652	$	3,897,133
Work-in-process		3,963,814		3,449,252
Finished products		5,556,355		3,999,920
Total inventory	$	13,434,821	$	11,346,305
Less: inventory reserves		315,345		315,345
Net inventory	$	13,119,476	$	11,030,960