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Note 2 - Inventory

9 Months Ended

Sep. 30, 2013

NOTE 2 – INVENTORY

Inventory consisted of the following at September 30, 2013 and December 31, 2012:

	2013			2012
Furnace parts and supplies	$	1,011,408		$	986,278
Raw materials		710,226			705,025
Work in process		2,022,679			1,502,144
Finished goods		1,290,462			990,935
Reserve for obsolescence		(216,079	)		(72,567	)
Net Inventory	$	4,818,696		$	4,111,815

- 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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