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Inventories
3 Months Ended
Mar. 31, 2022
Notes  
Inventories

6.  Inventories are stated at the lower of cost or net realizable value, cost being determined by the first-in, first-out method.

 A summary of inventories is as follows:

 

 

March 31, 2022

 

December 31, 2021

Raw material

$       5,246,227   

 

$       4,645,923   

Work-in-process

2,526,418   

 

2,181,457   

Finished goods

2,482,595   

 

2,304,400   

Inventories, gross

10,255,240   

 

9,131,780   

Valuation reserves

(642,000)  

 

(612,000)  

Inventories, net

$       9,613,240   

 

$       8,519,780