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Note 3 - Inventory

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Inventory Disclosure [Text Block]

NOTE 3 - INVENTORY

Inventory consisted of the following at December 31, 2021 and December 31, 2020:

		2021				2020
Furnace parts and supplies		$	213,224			$	471,622
Raw materials			2,144,067				1,955,713
Work in process			1,671,290				2,394,481
Finished goods and filtration systems			1,660,907				1,424,171
Reserve for excess and obsolescence			(268,470	)			(723,949	)
Net Inventory		$	5,421,027			$	5,522,038

Inventory valuation adjustments for excess and obsolete inventory are calculated based on current inventory levels, movements, expected useful lives, and estimated future demand for the products. The reduction in the reserve for excess and obsolescence reflects the reuse of goods previously classified as obsolete due to shift in demand pattern from external clients. 

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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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