5. Maintenance and Other Inventory

12 Months Ended

May 31, 2024

Notes

5. Maintenance and Other Inventory:

5.  Maintenance and Other Inventory:

	2024	2023
Maintenance and other inventory	$ 2,416,748	$ 2,236,106
Less allowance for obsolescence	836,919	1,232,966
	$ 1,579,829	$ 1,003,140

Maintenance and other inventory represent stock that is estimated to have a product life-cycle in excess of twelve-months.  This stock represents certain items the Company is required to maintain for service of products sold, and items that are generally subject to spontaneous ordering.  This inventory is particularly sensitive to technical obsolescence in the near term due to its use in industries characterized by the continuous introduction of new product lines, rapid technological advances and product obsolescence.  Therefore, management of the Company has recorded an allowance for potential inventory obsolescence.  $791,000 and $322,000 of inventory was disposed of during the years ended May 31, 2024 and 2023.  The provision for potential inventory obsolescence was $386,000 and $295,000 for the years ended May 31, 2024 and 2023.  The Company continues to rework slow-moving inventory, where applicable, to convert it to product to be used on customer orders.