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3. INVENTORIES

3 Months Ended

Mar. 31, 2014

3.

INVENTORIES

Inventories are comprised of the following:

	March 31,			December 31,			March 31,
	2014			2013			2013
	(Unaudited)						(Unaudited)

Raw materials	$	13,368,153		$	10,958,796		$	13,363,226
Work-in-process		1,035,510			660,910			663,388
Finished goods		64,013,146			66,657,704			54,341,967
Reserve for obsolescence or lower of cost or market		(108,150	)		(105,740	)		(110,480	)
Total	$	78,308,659		$	78,171,670		$	68,258,101

- 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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