Quarterly report pursuant to Section 13 or 15(d)

Inventories, Net

v3.22.2
Inventories, Net
6 Months Ended
Jun. 30, 2022
Inventories, Net  
Inventories, Net

Note 4 – Inventories, Net

Inventories are stated at the lower of cost and net realizable value, and consisted of the following:

June 30, 

December 31, 

    

2022

    

2021

Purchased Parts and Components

$

10,414,139

$

11,580,766

Work-in-Process

 

285,481

 

226,126

Finished Goods

 

2,095,643

 

1,472,534

Less: Reserve for Obsolescence

 

(1,003,174)

 

(1,127,444)

Inventories, Net

$

11,792,089

$

12,151,982