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Change in accounting principle (Tables) | 12 Months Ended
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Dec. 31, 2022
Change in accounting principle [Abstract] |
Financial Statement Line Items Impacted by Change in Accounting Principle | The effect of the changes made to the Company’s Consolidated Balance Sheets for the periods presented are as follows:
|  | December 31, 2021 |
|  | Under FIFO Cost |  |  | Under Average Cost |  |  | Effect of Change |
Inventories |  | $ | 7,720 |  |  | $ | 7,711 |  |  | $ | (9 | )
Deferred tax assets |  |  | 5,141 |  |  |  | 5,143 |  |  |  | 2 |
Retained earnings |  |  | 15,573 |  |  |  | 15,566 |  |  |  | (7 | )
The ending balance in retained earnings as of December 31, 2020 was adjusted from $19,718 to $19,607. The effect of the changes made to the Company’s Consolidated Statements of Operations for the periods presented are as follows:
|  | Three months ended December 31, 2021 |  |  | Year ended December 31, 2021 |
|  | Under FIFO Cost |  |  | Under Average Cost |  |  | Effect of Change |  |  | Under FIFO Cost |  |  | Under Average Cost |  |  | Effect of Change |
Cost of sales |  | $ | 6,705 |  |  | $ | 6,817 |  |  | $ | 112 |  |  | $ | 24,137 |  |  | $ | 24,004 |  |  | $ | (133 | )
Gross profit |  |  | 4,418 |  |  |  | 4,306 |  |  |  | (112 | ) |  |  | 15,249 |  |  |  | 15,382 |  |  |  | 133 |
Operating loss |  |  | (2,485 | ) |  |  | (2,597 | ) |  |  | (112 | ) |  |  | (9,510 | ) |  |  | (9,377 | ) |  |  | 133 |
Loss before income taxes |  |  | (1,124 | ) |  |  | (1,236 | ) |  |  | (112 | ) |  |  | (6,216 | ) |  |  | (6,083 | ) |  |  | 133 |
Income tax benefit |  |  | 389 |  |  |  | 413 |  |  |  | 24 |  |  |  | 2,071 |  |  |  | 2,042 |  |  |  | (29 | )
Net loss |  |  | (735 | ) |  |  | (823 | ) |  |  | (88 | ) |  |  | (4,145 | ) |  |  | (4,041 | ) |  |  | 104 |
Net loss per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.07 | ) |  | $ | (0.08 | ) |  | $ | (0.01 | ) |  | $ | (0.45 | ) |  | $ | (0.43 | ) |  | $ | 0.02 |
Diluted |  | $ | (0.07 | ) |  | $ | (0.08 | ) |  | $ | (0.01 | ) |  | $ | (0.45 | ) |  | $ | (0.43 | ) |  | $ | 0.02 |
Shares used in per-share calculation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 9,848 |  |  |  | 9,848 |  |  |  |  |  |  |  | 9,298 |  |  |  | 9,298 |  |  |  |  |
Diluted |  |  | 9,848 |  |  |  | 9,848 |  |  |  |  |  |  |  | 9,298 |  |  |  | 9,298 |  |  |  |  |
The effect of the changes made to the Company’s Consolidated Statements of Comprehensive Loss for the periods presented are as follows:
|  | Three months ended December 31, 2021 |  |  | Year ended December 31, 2021 |
|  | Under FIFO Cost |  |  | Under Average Cost |  |  | Effect of Change |  |  | Under FIFO Cost |  |  | Under Average Cost |  |  | Effect of Change |
Net loss |  | $ | (735 | ) |  | $ | (823 | ) |  | $ | (88 | ) |  | $ | (4,145 | ) |  | $ | (4,041 | ) |  | $ | 104 |
Comprehensive loss |  |  | (662 | ) |  |  | (750 | ) |  |  | (88 | ) |  |  | (3,964 | ) |  |  | (3,860 | ) |  |  | 104 |
The effect of the changes made to the Company’s Consolidated Statements of Cash Flows for the periods presented are as follows:
|  | Year ended December 31, 2021 |
|  | Under FIFO Cost |  |  | Under Average Cost |  |  | Effect of Change |
Net loss |  | $ | (4,145 | ) |  | $ | (4,041 | ) |  | $ | 104 |
Deferred income tax benefit |  |  | (2,150 | ) |  |  | (2,121 | ) |  |  | 29 |
Inventories |  |  | 3,573 |  |  |  | 3,440 |  |  |  | (133 | )
The effect of the changes made to the Company’s Consolidated Statements of Changes in Shareholders’ Equity for the periods presented are as follows:
|  | Three months ended December 31, 2021 |  |  | Year ended December 31, 2021 |
|  | Under FIFO Cost |  |  | Under Average Cost |  |  | Effect of Change |  |  | Under FIFO Cost |  |  | Under Average Cost |  |  | Effect of Change |
Equity beginning balance |  | $ | 39,280 |  |  | $ | 39,361 |  |  | $ | 81 |  |  | $ | 30,236 |  |  | $ | 30,125 |  |  | $ | (111 | )
Retained earnings - beginning of period |  |  | 16,308 |  |  |  | 16,389 |  |  |  | 81 |  |  |  | 19,718 |  |  |  | 19,607 |  |  |  | (111 | )
Net loss |  |  | (735 | ) |  |  | (823 | ) |  |  | (88 | ) |  |  | (4,145 | ) |  |  | (4,041 | ) |  |  | 104 |
Retained earnings - end of period |  |  | 15,573 |  |  |  | 15,566 |  |  |  | (7 | ) |  |  | 15,573 |  |  |  | 15,566 |  |  |  | (7 | )
Equity ending balance |  |  | 38,991 |  |  |  | 38,984 |  |  |  | (7 | ) |  |  | 38,991 |  |  |  | 38,984 |  |  |  | (7 | )

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