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Note 4 - Inventory
6 Months Ended
Jun. 30, 2022
Notes to Financial Statements  
Inventory Disclosure [Text Block]

NOTE 4 - INVENTORY

 

Inventory consisted of the following on June 30, 2022, and December 31, 2021:

 

   

June 30,

2022

   

December 31,

2021

 

Furnace parts and supplies

  $ 477,599     $ 213,224  

Raw materials

    2,292,852       2,144,067  

Work in process

    1,080,722       1,671,290  

Finished goods and filtration systems

    2,014,225       1,660,907  

Reserve for obsolescence

    (419,985

)

    (268,470

)

Net Inventory

  $ 5,445,413     $ 5,421,027  

 

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.