Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Significant Accounting Policies: Inventories (Policies)

v3.5.0.2
Note 2 - Significant Accounting Policies: Inventories (Policies)
3 Months Ended
Jun. 30, 2016
Policies  
Inventories

Inventories

 

In accordance with ARB 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 basis.  Inventory consists of finished goods held for sale and includes the following:

 

For the Period Ending

 

June 30, 2016

 

March 31, 2016

Raw materials

 $           716,949

 

 $                967,823

Finished goods

           9,484,322

 

              10,316,857

Work in process

                      -  

 

 -

Subtotal

          10,201,271

 

              11,284,680

Reserve for Obsolence

            (229,919)

 

                 (237,998)

Total

 $         9,971,352

 

 $           11,046,682