Note 3 - Inventories

6 Months Ended

Jun. 30, 2012

Note 3 – Inventories

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

	2012		2011
Raw material	$	8,328,154	$	23,080,165
Work in process		6,525,780		10,265,880
Finished goods		44,959,271		27,829,309
Total		59,813,205		61,175,354
Allowance for inventory impairment		(157,523)		(158,123)
Inventories, net	$	59,655,682	$	61,017,231

- 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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