INVENTORIES, NET

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

INVENTORIES, NET

Inventory is recorded at the lower of cost or net realizable value. The cost of substantially all the Company’s inventory is determined by the FIFO cost method. Inventories consisted of the following:

	June 30,			December 31,
	2020			2019
Finished goods	$	719,104		$	653,323
Work in process		22,149			413
Raw materials		1,393,252			1,590,805
		2,134,505			2,244,541
Less allowance for obsolescence		(48,000	)		-
Inventories - net	$	2,086,505		$	2,244,541

At June 30, 2020 the Company established a reserve for obsolescence of $48,000 related to parts expected to be displaced by product improvement initiatives.