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Property, Plant and Equipment
 12 Months Ended
Sep. 30, 2021
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

NOTE 6 – PROPERTY, PLANT AND EQUIPMENT

 

Property, plant and equipment as of September 30, 2021 and 2020 consisted of the following:

 

   2021   2020 
Buildings  $5,195,800   $4,930,868 
Machinery and equipment   8,737,421    7,706,598 
Transportation vehicles   1,079,190    932,472 
Office equipment   682,216    460,943 
Construction in progress (“CIP”)   
-
    235,266 
Total property plant and equipment, at cost   15,694,627    14,266,147 
Less: accumulated depreciation   (8,485,922)   (7,578,505)
Property, plant and equipment, net  $7,208,705   $6,687,642 

 

Depreciation expense was $735,333, $723,586 and $617,634 for the years ended September 30, 2021, 2020 and 2019, respectively.

 

During fiscal year ended September 30, 2021, the Company sold fixed assets with a net carrying value of $22,593, and recorded loss on sale of fixed assets of $1,767. During fiscal year ended September 30, 2020, the Company sold fixed assets with a net carrying value of $70,644, and recorded gain on sale of fixed assets of $654,138.

 

As of September 30, 2021 and 2020, the Company pledged buildings to secure banking facilities granted to the Company. The carrying values of the pledged buildings to secure bank borrowings by the Company are shown in Note 10.