Annual report pursuant to Section 13 and 15(d)

Product warranty

v3.8.0.1
Product warranty
 12 Months Ended
Dec. 31, 2017
Guarantees [Abstract]  
Product warranty
Product warranty
The Company reserves an estimate of its exposure to warranty claims based on both current and historical product sales data and warranty costs incurred. The majority of the Company’s products carry a one-year warranty. The Company assesses the adequacy of its recorded warranty liability annually and adjusts the amount as necessary. The warranty liability is included in accrued expenses on the accompanying consolidated balance sheets.
Changes in the Company’s warranty reserve were as follows:
Warranty reserve, December 31, 2015
$
110,000

Warranty provision for units sold
169,180

Costs of warranty incurred
(131,180
)
Warranty reserve, December 31, 2016
148,000

Warranty provision for units sold
128,100

Costs of warranty incurred
(142,600
)
Warranty reserve, December 31, 2017
$
133,500