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Note 11 - Inventories
3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Inventory Disclosure [Text Block]

11.

Inventories

 

   

March 31,

   

December 31,

 
   

2025

   

2024

 

Inventories consist of the following:

 

(Unaudited)

   

(Audited)

 

Raw materials

  $ 492,627     $ 448,113  

Work in process

    18,915       58,699  

Finished products

    991,519       945,183  

Total inventories

  $ 1,503,061     $ 1,451,995  

 

Inventories are valued at the lower of cost and net realizable value. Net realizable value is equal to the selling price less the estimated costs of selling and/or disposing of the product. Cost is determined using the average cost method, which approximates cost determined by the first-in, first-out (“FIFO”) method. Finished product inventories at March 31, 2025 and December 31, 2024 are stated net of a reserve of $30,006 and $32,792, respectively, for slow-moving and obsolete inventory.