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Inventories

12 Months Ended

Apr. 30, 2013

NOTE 2—INVENTORIES

The following table summarizes the components of inventories, as of April 30 of each year:



	2013		2012
Raw materials	$	850,000	$	848,000
Work in process	281,000		296,000
Finished goods	260,000		85,000
	$	1,391,000	$	1,229,000

- 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.

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