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Inventory

6 Months Ended

Jun. 30, 2011

Note 4. Inventory

Commencing January 1, 2011, inventory is valued at the lower of cost or market using first in first out (FIFO) which approximate average cost, due to the rapid turnover of inventory. The Company previously valued its inventory at lower of cost or market using standard cost which approximated average cost, and as such, the change is not considered a change in accounting. Inventories are reviewed periodically and items considered to be slow-moving or obsolete are reduced to estimated net realizable value through an appropriate reserve. At June 30, 2011 and December 31, 2010, the inventory reserve was $63 and $64 thousand, respectively. Inventory consists of the following amounts (in thousands):

	June 30,			December 31,
	2011			2010
Raw materials	$	80		$	58
Work in progress		-			-
Finished goods		522			554
Subtotal		602			612
Inventory reserve		(63	)		(64	)
Net inventory	$	539		$	548

- 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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