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Note 2 - Inventories

6 Months Ended

Mar. 01, 2015

2.	INVENTORIES

Inventories consist primarily of raw material, work-in-progress (WIP) and finished goods and are valued at the lower of cost or market:

	March 1, 2015		August 31, 2014

Raw material	$	2,093,606	$	2,018,080
WIP		1,349,736		823,704
Finished goods		1,394,494		925,243
	$	4,837,836	$	3,767,027

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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