INVENTORY

9 Months Ended

Sep. 30, 2014

NOTE 6. INVENTORY

Inventory consisted of the following:

	September 30,		December 31,
	2014		2013
Raw materials	$	1,007,597	$	1,020,486
Work in process		125,751		49,717
Finished goods		10,786,885		17,752,203
Supplies		871,481		1,099,747
Reserve for inventory valuation		(142,107)		(4,603,929)
Total Inventory	$	12,649,607	$	15,318,224

The balance of reserve for inventory valuation as of September 30, 2014 and December 31, 2013 was $142, 107 and $4,603,929 respectively.

- 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.

+ References+ Details