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INVENTORIES

12 Months Ended

Dec. 31, 2012

5. INVENTORIES

Inventories consist of the following:

	At December 31, 2011		At December 31, 2012

	$		$
Raw materials		50,062,944		40,197,952
Work-in-process		49,157,454		16,739,907
Finished goods		197,347,729		217,517,939

		296,568,127		274,455,798

In 2010, 2011 and 2012, inventory was written down by $2,101,124, $8,456,260 and $3,085,529, respectively, to reflect the lower of cost or market.

- 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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