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Note 3 - Inventory
3 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Inventory Disclosure [Text Block]

NOTE 3 - INVENTORY

 

Inventory consisted of the following on March 31, 2023, and December 31, 2022:

 

  

March 31,

2023

  

December 31,

2022

 

Furnace parts and supplies

 $67,689  $66,495 

Raw materials

  2,721,031   2,474,227 

Work in process

  1,155,789   982,973 

Finished goods and filtration systems

  1,152,376   1,201,533 

Reserve for obsolescence

  (675,137

)

  (663,227

)

Net Inventory

 $4,421,748  $4,062,001 

 

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.