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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: e. Inventories (Policies)
12 Months Ended
Dec. 31, 2023
Policies  
e. Inventories

e.       Inventories

 

Inventories are stated at the lower of cost or market value, cost determined on an average cost basis. Market value for raw materials is based on replacement costs. Inventory costs include material, labor and manufacturing overhead. The Company reviews inventories on hand at least annually and records provisions for estimated excess, slow moving and obsolete inventory, as well as inventory with a carrying value in excess of net realizable value. The regular and systematic inventory valuation reviews include a current assessment of future product demand, historical experience and product expiration.