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Inventories

6 Months Ended

Mar. 31, 2012

Note 3. Inventories

Inventories are stated at the lower of cost determined on the first-in, first-out method or market.

Inventories net of reserve for obsolescence consisted of the following:

March 31, 2012

September 30, 2011


Raw materials and stock parts	$	398,987	$	499,622
Work-in-process		24,133		14,056
Finished goods		36,793		53,583

	$	459,913	$	567,261

The Company's reserve for obsolescence equaled $392,703 at March 31, 2012 and September 30, 2011.

- 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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