XML 100 R10.htm IDEA: XBRL DOCUMENT

Inventories

3 Months Ended

Dec. 31, 2012

4 Inventories, net

Inventories as of September 30, 2012 and December 31, 2012 consisted of the following:

		September 30,			December 31,
		2012			2012

Raw materials	$	24,358,840		$	21,830,170
Work-in-progress		13,912,685			15,622,544
Finished goods		39,531,622			34,929,477

		77,803,147			72,382,191
Provision for obsolete inventories		(12,419,318	)		(11,814,847	)

	$	65,383,829		$	60,567,344

Part of the Company’s inventories with carrying value of $23,863,691 and $24,072,024 as of September 30, 2012 and December 31, 2012, respectively, was pledged as collateral under certain loan agreements (see Note 7).

An analysis of provision for obsolete inventories for the three months ended December 31, 2011 and 2012 is as follows:

	Three months ended December 31,
		2011			2012

Balance at beginning of period	$	7,125,699		$	12,419,318
Provision for the period		84,677			-
Reversal for the period		(370,416	)		(710,827	)
Foreign exchange adjustment		50,499			106,356

Balance at end of period	$	6,890,459		$	11,814,847

- 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