XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Inventories | 3 Months Ended
--- | ---
Mar. 31, 2024
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories are valued at the lower of cost (using either the first-in, first-out (“FIFO”) or average cost methods) or net realizable value. The Company evaluates and adjusts as necessary its excess and obsolescence reserve on a quarterly basis. Excess inventories are quantities of items that exceed anticipated sales or usage for a reasonable period. The Company has guidelines for calculating provisions for excess inventories based on the number of months of inventories on hand compared to anticipated sales or usage. Management uses its judgment to forecast sales or usage and to determine what constitutes a reasonable period. Inventory cost includes material, labor and overhead. Inventories consist of the following:
|  | March 31, 2024 |  | December 31, 2023
Raw materials |  | $ | 135,150 |  |  | $ | 142,744 |
Work-in-progress |  | 9,843 |  |  | 11,907 |
Finished goods |  | 34,898 |  |  | 33,107 |
Total inventories, net |  | $ | 179,891 |  |  | $ | 187,758 |
Inventory valued using the FIFO method was $168,094 and $176,033 at March 31, 2024 and December 31, 2023, respectively. Inventory valued using the average cost method was $11,797 and $11,725 at March 31, 2024 and December 31, 2023, respectively.

X
- References No definition available. + Details
Name: | us-gaap_InventoryDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//330/tableOfContent + Details
Name: | us-gaap_InventoryDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration