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Inventories, Net

3 Months Ended

Jul. 31, 2014

Note B - Inventories, net

The components of inventory consist of the following:



	July 31,		April 30,
	2014		2014

Finished products	$	22,577,250	$	18,553,112
Work-in-process		3,135,634		3,126,596
Raw materials		33,588,822		33,853,653
		59,301,706		55,533,361
Less obsolescence reserve		1,756,369		1,804,984
	$	57,545,337	$	53,728,377

- 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