Quarterly report pursuant to Section 13 or 15(d)

Note 6 - Inventories

v3.8.0.1
Note 6 - Inventories
3 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Inventory Disclosure [Text Block]
Note
6.
Inventories
 
Inventories consist of the following as of:
 
   
December 31,
2017
 
September 30,
2017
Raw materials   $
6,012,095
    $
5,991,863
 
Work-in-progress    
431,495
     
724,248
 
Finished goods    
1,696,794
     
1,737,456
 
Inventories   $
8,140,384
    $
8,453,567
 
 
During the quarter ended
December 31, 2017,
the Company adopted Accounting Standards Update (“ASU”)
2015
-
11,
 
Inventory (Topic
330
) Related to Simplifying the Measurement of Inventory
which applies to all inventory except inventory that is measured using last-in,
first
-out or the retail inventory method. This adoption had
no
effect on the financial statements and was applied prospectively. Therefore, prior periods were
not
retrospectively adjusted.