SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of major components of inventories

	2015		2014
Raw materials	$	1,640,098	$	2,020,151
Work-in-progress		375,229		407,964
Finished goods		1,336,707		1,517,151
Reduction to LIFO cost		(1,232,229)		(1,314,616)
Total Inventory	$	2,119,805	$	2,630,650

Schedule of estimated useful lives of property, plant and equipment

	Years
Buildings	15-40
Machinery and equipment	5-10
Office equipment	3-10
Vehicles	3

Schedule of remaining estimated weighted average useful lives of intangible assets

	Years
Patents	11.4
Licenses	2.3
Non-compete agreements	—

Summary of shares used in the calculation of diluted EPS

	2015	2014
Weighted average common shares outstanding	2,018,253	2,017,144
Dilutive effect of stock options	338	1,190
Weighted average common and common equivalent shares outstanding	2,018,591	2,018,334