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EXCEL - IDEA: XBRL DOCUMENT - VIPER POWERSPORTS INCFinancial_Report.xls
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EX-31.1 - EXHIBIT 31.1 - VIPER POWERSPORTS INCv327636_ex31-1.htm
EX-32.1 - EXHIBIT 32.1 - VIPER POWERSPORTS INCv327636_ex32-1.htm
10-Q/A - FORM 10-Q/A - VIPER POWERSPORTS INCv327636_10qa.htm
EX-31.2 - EXHIBIT 31.2 - VIPER POWERSPORTS INCv327636_ex31-2.htm
v2.4.0.6
Inventories
9 Months Ended
Sep. 30, 2011
Inventory Disclosure [Abstract]  
Inventory Disclosure [Text Block]

F. Inventories

 

Inventories are stated at the lower of cost or market. Cost is determined by using first-in, first-out method (FIFO). Demonstration motorcycles are stated at manufacturing cost with reserves recorded to reflect their net realizable value. The Company reviews inventory for obsolescence and excess quantities to determine that items deemed obsolete or in excess are appropriately reserved. Inventory components at September 30, 2011 are as follows:

 

 

    September 30,
2011
 
Raw material   $ 518,834  
Work-in-process     0  
Finished goods     143,012  
    $ 661,846  
         
Current portion   $ 230,585  
Long-term portion   $ 431,261