Inventories

6 Months Ended

Jun. 30, 2021

Notes

Inventories

6.  Inventories are stated at the lower of cost or net realizable value, cost being determined by the first-in, first-out method.

 A summary of inventories is as follows:

	June 30, 2021	December 31, 2020
Raw material	$       3,390,080	$       2,245,709
Work-in-process	2,185,380	1,410,868
Finished goods	2,106,209	2,096,717
Inventories, gross	7,681,669	5,753,294
Valuation reserves	(625,000)	(600,000)
Inventories, net	$       7,056,669	$       5,153,294