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Inventories

9 Months Ended

Dec. 31, 2014

(4)Inventories

Inventories at December 31, 2014 and March 31, 2014 consisted of:


	December 31, 2014		March 31, 2014
Raw materials	$	7,269,887	$	7,537,189
Work-in-process		129,920		84,178
Finished products		2,251,962		2,433,055
	$	9,651,769	$	10,054,422

Our inventories are subject to obsolescence and potential impairment due to bulk purchases in excess of customers’ requirements. We periodically assess our inventories for recovery of carrying value based on available information, expectations and estimates, and adjust inventory carrying values to the lower of cost or market for estimated declines in the realizable value. There was no impairment for obsolete inventory during the nine month periods ended December 31, 2014 and 2013.

- 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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