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Note 8 - Inventories

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Inventory Disclosure [Text Block]

8.

   Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is determined using standard costs which approximate costing determined on a

first

-in,

first

out basis. Standard costs are reviewed and adjusted periodically and at year end based on actual direct and indirect production costs. On a periodic basis, the Company reviews its inventory for estimated obsolescence or unmarketable items, primarily by reviewing future demand requirements and shelf life of the product.

Inventories are comprised of the following:

		December 31, 201 8				December 31, 201 7
Raw materials		$	1,994,741			$	2,632,415
Work in Process			3,052,224				3,386,078
Finished Goods			14,934,581				13,347,620
In Transit			480,716
Allowance for excess quantities			(454,774	)			(500,181	)
Total inventories		$	20,007,488			$	18,865,932

X

- References

No definition available.

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X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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