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Inventories, Net

12 Months Ended

Sep. 30, 2015

Inventory Disclosure [Abstract]

Inventories, Net

NOTE 2—INVENTORIES, NET

Net inventories consist of the following:

		September 30,
		2015				2014
Raw materials		$	6,090,000			$	6,097,000
Work in process			1,849,000				2,414,000
Finished goods			4,563,000				4,988,000
Used equipment			268,000				174,000
		$	12,770,000			$	13,673,000

At September 30, 2015 and 2014, 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 $5,343,000 and $5,472,000 at September 30, 2015 and 2014, respectively. Slow moving and obsolete inventory reserves were $3,310,000 and $3,139,000 at September 30, 2015 and 2014, respectively.

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- References

No definition available.

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- 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.6)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 6
-Subparagraph a, b, c
-Article 5

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