Note 8 - Inventories

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Inventory Disclosure [Text Block]

8.        Inventories 

	June 30,		December 31,
	2022		2021
	(unaudited)		(audited)
Inventories consist of the following:
Raw materials	$	582,458	$	494,348
Work in process		165,263		119,069
Finished products		980,483		797,372
Total inventories	$	1,728,204	$	1,410,789

Inventories are valued at the lower of cost and net realizable value. Cost is determined using the average cost method, which approximates cost determined by the first-in, first-out (“FIFO”) method. Finished product inventories at June 30, 2022 and December 31, 2021 are stated net of a reserve of $35,000 for slow moving and obsolete inventory.