XML 23 R12.htm IDEA: XBRL DOCUMENT v3.24.3
Inventories
9 Months Ended
Sep. 30, 2024
Inventory Disclosure [Abstract]  
Inventories

Note 3 - Inventories

 

The inventories as of September 30, 2024 and December 31, 2023 totaled $2,444,874 and $2,213,311, respectively, and consisted entirely of finished goods.

 

Inventories are stated at the lower of cost and net realizable value, with cost determined on a weighted-average basis. Write-down of potential obsolete or slow moving inventories is recorded based on management’s assumptions about future demands and market conditions. For the nine months ended September 30, 2024 and 2023, the Company wrote-down (reversal) $41,635 and $132,329 of slow-moving inventory, respectively; and ($2,618) and $23,544 of slow-moving inventory for the three months ended September 30, 2024 and 2023, respectively. The inventory write-down is included in “Cost of Sales” in the unaudited condensed consolidated statements of loss and comprehensive loss.