INVENTORIES

3 Months Ended

Dec. 31, 2011

NOTE 5 - INVENTORIES

Inventories at December 31, 2011 and September 30, 2011, respectively, consist of the following:


	December 31,			September 30,
	2011			2011

Raw materials	$	1,074,337		$	1,039,604
Work-in-process		38,002			48,049
Finished goods		1,007,527			914,285
		2,119,866			2,001,938
Less reserves		(551,653	)		(541,158	)
Inventories, net	$	1,568,213		$	1,460,780

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References+ Details

HEMAGEN DIAGNOSTICS INC 10-Q