Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Inventory

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Note 7 - Inventory
6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Inventory Disclosure [Text Block]
7.
Inventory
 
All components of inventory are valued at the lower of cost (
first
-in,
first
-out) or net realizable value. We adjust inventory to net realizable value if the net realizable value is lower than the carrying cost of the inventory. Net realizable value is determined based on estimated sales activity and margins. We estimate a reserve for obsolete inventory based on management’s judgment of probable future commercial use, which is based on an analysis of current inventory levels, estimated future sales and production rates, and estimated shelf lives.
 
The components of inventory as of
June 30, 2017
and
December 
31,
2016
are as follows:
 
 
 
June 30
,
2017
 
 
December 31,
2016
 
 
 
(unaudited)
 
 
 
 
 
Materials
  $
    $
94,500
 
Work-in-process
   
     
1,708
 
Finished goods
   
748
     
 
Reserves
   
(748
)
   
 
Total
  $
    $
96,208