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INVENTORIES
9 Months Ended
Sep. 30, 2021
Inventory Disclosure [Abstract]  
INVENTORIES

NOTE 2. INVENTORIES

 

Inventories consisted of the following at September 30, 2021 and December 31, 2020:

 

   September 30, 2021   December 31, 2020 
Raw material and component parts  $3,068,418   $3,186,426 
Work-in-process   15,506    1,908 
Finished goods   10,827,344    6,974,291 
           
Subtotal   13,911,268    10,162,625 
Reserve for excess and obsolete inventory   (2,300,019)   (1,960,351)
           
Total  $11,611,249   $8,202,274 

 

Finished goods inventory includes units held by potential customers and sales agents for test and evaluation purposes. The cost of such units totaled $156,261 and $138,263 as of September 30, 2021 and December 31, 2020, respectively.