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Inventories
 12 Months Ended
Sep. 30, 2020
Inventory Disclosure [Abstract]  
Inventories
NOTE 2 - INVENTORIES
Inventories are valued at the lower of cost or net realizable value. During the fourth quarter of fiscal 2019, the Company changed its method for accounting for cost of inventories from the LIFO method to the FIFO method. The Company believes the FIFO method improves financial reporting by better reflecting the current value of inventory on the consolidated balance sheets, by more closely aligning the flow of physical inventory with the accounting for the inventory, and by providing better matching of revenues and ex
p
enses.
Net inventories consist of the following:
 
     September 30,  
     2020      2019  
Raw materials
    $ 14,607,000      $ 14,158,000  
Work in process
      3,633,000        1,397,000  
Finished goods
      8,810,000        9,811,000  
Used equipment
      40,000       
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Inventories, net
    $ 27,090,000      $ 25,366,000  
  
 
 
     
 
 
  
Slow-moving and obsolete inventory reserves were $4,617,000 and $4,700,000 at September 30, 2020 and 2019, respectively.