Quarterly report pursuant to Section 13 or 15(d)

Inventories, Net

v3.5.0.2
Inventories, Net
6 Months Ended
Jun. 30, 2016
Inventory Disclosure [Abstract]  
Inventories,Net
Note 3 — Inventories, Net
  
Inventories are stated at the lower of cost (determined on the first-in, first-out or specific identification method) or market and consisted of the following:
 
 
 
June 30, 2016
 
December 31, 2015
 
 
 
 
 
 
 
 
 
Purchased Parts and Components
 
$
3,217,769
 
$
3,069,261
 
Work in Process
 
 
505,110
 
 
154,880
 
Finished Goods
 
 
343,477
 
 
612,451
 
Less: Reserve for Obsolescence
 
 
(595,402)
 
 
(487,494)
 
Net
 
$
3,470,954
 
$
3,349,098