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INVENTORY
12 Months Ended
Dec. 31, 2019
Inventory Disclosure [Abstract]  
Inventory Disclosure [Text Block]

2 - INVENTORY


Inventory, consisting principally of products held for resale, is stated at the lower of cost, using the first-in, first-out method, or net realizable value. The amount presented in the accompanying consolidated balance sheet is net of valuation allowances of $5,893,000 and $7,189,000 at December 31, 2019 and 2018, respectively.


Based upon regular evaluations of inventory to identify costs in excess of the lower of cost or net realizable value and slow-moving inventory, we increased our reserves by $405,000 and $180,000 for the years ended December 31, 2019 and 2018, respectively, while also applying $1,701,000 and $838,000 of our existing reserves to the underlying inventory values during the years ended December 31, 2019 and 2018, respectively.