Inventories, net

12 Months Ended

Dec. 31, 2023

Inventory, Net [Abstract]

Inventories, net

5. Inventories, net

	December 31, 2023		December 31, 2022
Raw materials	$	696,220	$	812,066
Work in progress	223,655		230,865
Finished goods	425,561		458,881
Subtotal	1,345,436		1,501,812
Less reserves	(119,984)		(135,204)
Total	$	1,225,452	$	1,366,608

At December 31, 2022, approximately 4%, of the Company's total inventories were accounted for using the LIFO method. During the fourth quarter of 2023, the Company changed the method of accounting for the inventories previously accounted for under LIFO to FIFO. As of December 31, 2023 no inventories are accounted for under the LIFO method. See Note 1 — Description of Business and Summary of Significant Accounting Policies