Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Significant Accounting Policies: Inventories (Policies)

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Note 2 - Significant Accounting Policies: Inventories (Policies)
9 Months Ended
Dec. 31, 2015
Policies  
Inventories

Inventories

 

In accordance with Accounting Research Bulletin No. 43 “Inventory Pricing,” the Company’s inventory is valued at the lower of cost (the purchase price, including additional fees) or market based on using the entire value of inventory.  Inventories are determined based on the average cost method. As of December 31, 2015 and March 31, 2015, inventory consisted of the following:

December 31, 2015

 March 31, 2015

Raw materials

 $  688,830

 $                  -

Finished goods

10,400,207

11,951,108

Work in process

-

-

Subtotal

11,089,037

11,951,108

Reserve for Obsolence

(248,439)

(184,573)

Total

 $ 10,840,598

 $ 11,766,535