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Inventory

6 Months Ended

Jun. 30, 2013

Note B – Inventory

Inventory is comprised of the following:

	June 30, 2013		December 31, 2012

Raw Materials	$	1,660,000	$	1,578,000
Work In Process		818,000		671,000
Finished Goods		361,000		583,000
Allowance for slow moving and obsolete inventory		(358,000)		(261,000)
	$	2,481,000	$	2,571,000

- 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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