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These excerpts taken from the EPIC 8-K filed Feb 21, 2006. Inventories
Inventories are stated at the lower of cost (first-in, first-out or “FIFO”) or market. Probable losses from obsolete and slow moving inventories are recorded when identified.
Inventories
Inventories are stated at the lower of cost (first-in, first-out or “FIFO”) or market. Probable losses from obsolete and slow moving inventories are recorded when identified. For the year ended December 31, 2004, the Company recorded a $1,000 charge for certain third party software licenses held for resale and included such charge in cost of revenues – software licenses.
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