SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2016

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of major components of inventories

	Dec 31, 2016		Dec 31, 2015
Raw materials	$	1,438,471	$	1,640,098
Work-in-progress		355,208		375,229
Finished goods		1,319,856		1,336,707
Reduction to LIFO cost		(1,127,363)		(1,232,229)
Total Inventories	$	1,986,172	$	2,119,805

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	12.0
Licenses	1.3

Summary of shares used in the calculation of diluted EPS

	2016	2015
Weighted average common shares outstanding	2,018,649	2,018,253
Dilutive effect of stock options	-	338
Weighted average common and common equivalent shares outstanding	2,018,649	2,018,591