Inventories, Net

12 Months Ended

Sep. 30, 2013

NOTE 2 - INVENTORIES, NET

Net inventories consist of the following:


	September 30,
	2013		2012
Raw materials	$	6,238,000	$	7,375,000
Work in process		3,307,000		1,201,000
Finished goods		4,054,000		3,202,000
Used equipment		527,000		140,000

	$	14,126,000	$	11,918,000

At September 30, 2013 and 2012, cost is determined by the last-in, first-out (“LIFO”) method for inventories. The estimated current cost of inventories exceeded their LIFO basis by approximately $5,141,000 and $4,992,000 at September 30, 2013 and 2012, 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.

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