XML 29 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Inventory
9 Months Ended
Sep. 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 September 30, 2012 and December 31, 2011, consisted of the following:

 

                 
    September 30,
2012
    December 31,
2011
 

Raw materials

  $ 10,658,787     $ 11,304,265  

Work-in-process

    202,325       304,783  

Finished goods

    3,806,484       4,306,585  

Reserve for excess and obsolete inventory

    (4,236,764     (4,430,872
   

 

 

   

 

 

 

Inventory, net

  $ 10,430,832     $ 11,484,761