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Change in Accounting Method (Tables) | 3 Months Ended
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Mar. 31, 2023
Change in Accounting Method [Abstract] |
Financial Statement Line Items Impacted by Change in Accounting Method | The effect of the changes made to the Company’s Condensed Consolidated Statements of Operations for the periods presented are as follows:
|  | Three months ended March 31, 2022 |
|  | Under FIFO Cost |  |  | Under Average Cost |  |  | Effect of Change |
Cost of sales |  | $ | 6,708 |  |  | $ | 7,136 |  |  | $ | 428 |
Gross profit |  |  | 2,994 |  |  |  | 2,566 |  |  |  | (428 | )
Operating loss |  |  | (5,176 | ) |  |  | (5,604 | ) |  |  | (428 | )
Loss before income taxes |  |  | (5,275 | ) |  |  | (5,703 | ) |  |  | (428 | )
Income tax benefit |  |  | 1,262 |  |  |  | 1,355 |  |  |  | 93 |
Net loss |  |  | (4,013 | ) |  |  | (4,348 | ) |  |  | (335 | )
Net loss per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.41 | ) |  | $ | (0.44 | ) |  | $ | (0.03 | )
Diluted |  | $ | (0.41 | ) |  | $ | (0.44 | ) |  | $ | (0.03 | )
Shares used in per-share calculation: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 9,886 |  |  |  | 9,886 |  |  |  |  |
Diluted |  |  | 9,886 |  |  |  | 9,886 |  |  |  |  |
The effect of the changes made to the Company’s Condensed Consolidated Statements of Comprehensive Income (Loss) for the periods presented are as follows:
|  | Three months ended March 31, 2022 |
|  | Under FIFO Cost |  |  | Under Average Cost |  |  | Effect of Change |
Net loss |  | $ | (4,013 | ) |  | $ | (4,348 | ) |  | $ | (335 | )
Comprehensive loss |  |  | (4,055 | ) |  |  | (4,390 | ) |  |  | (335 | )
The effect of the changes made to the Company’s Condensed Consolidated Statements of Cash Flows for the periods presented are as follows:
|  | Three months ended March 31, 2022 |
|  | Under FIFO Cost |  |  | Under Average Cost |  |  | Effect of Change |
Net loss |  | $ | (4,013 | ) |  | $ | (4,348 | ) |  | $ | (335 | )
Deferred income taxes |  |  | (1,262 | ) |  |  | (1,355 | ) |  |  | (93 | )
Inventories |  |  | (1,344 | ) |  |  | (916 | ) |  |  | 428 |
The effect of the changes made to the Company’s Condensed Consolidated Statements of Changes in Shareholders’ Equity for the periods presented are as follows:
|  | Three months ended March 31, 2022 |
|  | Under FIFO Cost |  |  | Under Average Cost |  |  | Effect of Change |
Equity beginning balance |  | $ | 38,991 |  |  | $ | 38,984 |  |  | $ | (7 | )
Retained earnings -- beginning of period |  |  | 15,573 |  |  |  | 15,566 |  |  |  | (7 | )
Net loss |  |  | (4,013 | ) |  |  | (4,348 | ) |  |  | (335 | )
Retained earnings -- end of period |  |  | 11,560 |  |  |  | 11,218 |  |  |  | (342 | )
Equity ending balance |  |  | 35,113 |  |  |  | 34,771 |  |  |  | (342 | )

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