Note 4 – Inventories, Net
Inventories are stated at the lower of cost and net realizable value, and consisted of the following:
September 30,
December 31,
2023
2022
Purchased Parts and Components
$
8,471,998
10,399,527
Work-in-Process
530,558
344,242
Finished Goods
4,201,994
1,941,689
Less: Reserve for Obsolescence
(1,902,672)
(1,417,489)
Inventories, Net
11,301,878
11,267,969
No definition available.
The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//330/tableOfContent