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Inventories

12 Months Ended

Dec. 31, 2014

NOTE 3 – INVENTORIES

At December 31, 2014 and 2013, inventories consisted of the following:

	December 31, 2014			December 31, 2013
Raw materials	$	835,589		$	1,627,784
Work-in-process		1,454,999			1,778,650
Finished goods		2,132,080			1,509,606
		4,422,668			4,916,040
Less: reserve for obsolete inventories		(181,646	)		(182,482	)
	$	4,241,022		$	4,733,558

For the year ended December 31, 2014, the Company did not make any change for reserve for obsolete inventories. For the year ended December 31, 2013, the Company increased reserve for obsolete inventories in the amount of $41,381.

- 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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