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INVENTORY

9 Months Ended

Sep. 28, 2019

Inventory Disclosure [Abstract]

INVENTORY

INVENTORY

Inventories are stated at standard cost adjusted to approximate the lower of cost (first-in, first-out method) or net realizable value and consist of the following at September 28, 2019 and December 29, 2018:

	September 28, 2019				December 29, 2018
Raw materials	$	2,539,460			$	2,548,139
Work-in-process	724,820				1,526,552
Finished goods	178,210				722,547
	$	3,442,490			$	4,797,238

In the nine months ended September 28, 2019 the Company charged $2.7 million for inventory obsolescence. The charges for inventory obsolescence primarily resulted from the discontinuance of certain products and the write-off of materials as we have found substitute materials that will provide for better long-term manufacturing yields.

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- References

No definition available.

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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