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Inventories

12 Months Ended

Jan. 31, 2012

Note 4—Inventories

Inventories are stated at the lower of cost (first-in, first-out) or market and include material, labor and manufacturing overhead. The components of inventories are as follows:


	January 31,
	2012		2011
Materials and Supplies	$	9,204,853	$	8,450,985
Work-in-Progress		1,274,397		982,092
Finished Goods		3,649,349		4,971,837

	$	14,128,599	$	14,404,914

Included within finished goods inventory is $1,324,490 and $1,413,198 of demonstration equipment at January 31, 2012 and 2011, 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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