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Inventory

9 Months Ended

Sep. 30, 2014

3. Inventory

Inventory consists of the following:


	September 30, 2014	December 31, 2013

Raw materials	$ 2,966,762	$ 3,141,111
Work in process	444,550	364,779
Finished goods	3,222,377	1,453,362
Reserve for obsolescence	(47,386)	(80,213)
Total inventory	$ 6,586,303	$ 4,879,039

- 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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