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Inventories

9 Months Ended

Sep. 30, 2014

(4) Inventories

A summary of inventories is as follows:

	September 30,		December 31,
	2014		2013
Jewelry	$	9,548,867	$	7,502,381
Scrap gold		635,618		514,622
Bullion		627,555		1,024,648
Rare coins and other		384,016		950,505
	$	11,196,056	$	9,992,156

- 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+ Details