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Inventories

9 Months Ended

Sep. 30, 2021

Inventory Disclosure [Abstract]

Inventories

Note 7. Inventories

As of September 30, 2021 and December 31, 2020, inventories consisted of the following:  

		September 30, 2021				December 31, 2020
Raw materials		$	820,227			$	1,008,653
Work in process			4,163,251				4,304,415
Finished goods			447,856				428,549
Total inventories, net			5,431,334				5,741,617
Less: noncurrent inventories			4,349,009				4,865,181
Current inventories, net		$	1,082,325			$	876,436

The reserve for obsolete inventory was $760,940 and $721,462 as of September 30, 2021 and December 31, 2020 respectively. The Company records charges for obsolete inventory in cost of goods sold. As of September 30, 2021 and December 31, 2020, noncurrent inventory was comprised of approximately $1.1 million and $0.7 million of raw materials, respectively, and $3.2 million and $4.2 million of work in process, respectively. 

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- References

No definition available.

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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