NOTE 2: INVENTORIES
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Mar. 31, 2012
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Inventory Disclosure [Text Block] |
NOTE
2: INVENTORIES
Inventories
are stated at the lower of cost or market value. Cost is
determined using the average cost method or the FIFO method.
The Company periodically evaluates the quantities on hand
relative to current and historical selling prices and
historical and projected sales volume. Based on these
evaluations, provisions are made in each period to write down
inventory to its net realizable value. Inventory write-offs
are provided to cover risks arising from slow-moving items,
technological obsolescence, excess inventories, and for
market prices lower than cost. Inventories in continuing
business segments increased, from December 31, 2011, $176,785
in the Training and Simulation Division and $167,934 in the
Battery Division for the product required to fulfill the
current backlog. Inventories are composed of the
following:
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