Quarterly report pursuant to Section 13 or 15(d)

Inventory

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Inventory
6 Months Ended
Jun. 30, 2017
Inventory Disclosure [Abstract]  
Inventory

NOTE 7 - INVENTORY

 

Inventory, which primarily consists of finished goods and components used in the Company’s products, is stated at the lower of cost or market using the first-in first-out (FIFO) method. Inventory is shown net of a valuation reserve of $208,000 at December 31, 2016, and $274,000 at June 30, 2017.

 

Inventories consist of the following:

 

    December 31, 2016     June 30, 2017  
          (Unaudited)  
             
Components   $ 1,183,000     $ 1,194,000  
Finished goods     2,737,000       1,390,000  
                 
    $ 3,920,000     $ 2,584,000