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Inventory
6 Months Ended
Jun. 30, 2012
Inventory [Abstract]  
Inventory

3. Inventory

Inventories are stated at the lower of cost or market. Cost is determined using the weighted average cost of raw materials, which approximates the first-in, first-out (FIFO) method, and includes allocations of manufacturing labor and overhead. Provisions are made to reduce potentially excess, obsolete or slow-moving inventories to their net realizable value. Inventories as of June 30, 2012 and December 31, 2011, consisted of the following:

 

                 
    June 30, 2012     December 31, 2011  

Raw materials

  $ 11,238,953     $ 11,304,265  

Work-in-process

    206,711       304,783  

Finished goods

    3,297,776       4,306,585  

Reserve for excess and obsolete inventory

    (4,276,582     (4,430,872
   

 

 

   

 

 

 

Inventory, net

  $ 10,466,858     $ 11,484,761