INVENTORIES, NET

12 Months Ended

Jan. 31, 2013

2. INVENTORIES, NET

Inventories consist of the following at January 31:

	2013		2012

Raw materials	$	21,096,015	$	21,213,423
Work-in-process		1,812,788		1,790,510
Finished goods		16,361,872		22,664,422
	$	39,270,675	$	45,668,355

As described in Note 1, the Company wrote down slow-moving inventory. Such change resulted in a corresponding change of $288,000.

- 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.

+ References+ Details