Inventories

6 Months Ended

Jun. 30, 2012

NOTE 3 INVENTORIES

Inventories at June 30, 2012 and December 31, 2011 consisted of the following:

	June 30, 2012			December 31, 2011
Raw materials	$	7,974,309		$	5,606,073
Work-in-progress		8,996,610			7,919,403
Finished goods		22,930,130			23,916,206
		39,901,049			37,441,682
Less: allowance for obsolete inventories		(1,030,351	)		(566,878	)
Total inventories	$	38,870,698		$	36,874,804

- 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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