Note D - Inventories

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Inventory Disclosure [Text Block]

NOTE D — INVENTORIES

Inventories consist of the following:	December 31, 2020		December 31, 2019
Dental finished goods, net	$	1,888,141	$	1,306,763
Medical finished goods, net		200,327		213,861
Component parts and other materials		331,711		99,885
Total inventories	$	2,420,179	$	1,620,509

At

December 31, 2020,

there are allowances for slow moving medical finished goods of approximately 

$450,000

 and damaged slow moving dental finished goods of approximately

$3,000.

 In

July 2019,

United System issued a credit to the Company for approximately

$151,000

for handpieces found to be defective. The Company recorded the credit in cost of sales because the Company previously recorded an allowance against the associated inventory during 

2018.

 At

December 31, 2019,

there was a reserve for slow moving medical finished goods of

$450,000

and damaged slow moving dental finished goods of

$318,000.

  During

2020

$315,000

of previously reserved for dental finished good inventory was destroyed. The reserve for the medical finished goods was provided due to the delay in commercialization of the intra-articular medical instrument.