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Note 5 - Inventories

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Inventory Disclosure [Text Block]

NOTE 5 – INVENTORIES

Inventories consisted of the following on June 30, 2024, and December 31, 2023:

		June 30, 2024				December 31, 2023
Furnace parts and supplies		$	45,789			$	55,177
Raw materials			3,329,036				3,301,526
Work in process			1,647,283				1,271,458
Finished goods and filtration systems			1,627,439				1,507,113
Reserve for obsolescence			(939,300	)			(867,458	)
Total inventories, net		$	5,620,247			$	5,267,816

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.

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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
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/330/tableOfContent

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