INVENTORIES

12 Months Ended

Dec. 31, 2021

INVENTORIES [Abstract]

INVENTORIES

NOTE 4 - INVENTORIES

Inventories are summarized as follows:

	December 31, 2021		December 31, 2020
Raw material	$	2,055,844	$	1,713,761
Work-in-progress		1,110,469		931,249
Finished goods		4,973,503		1,562,980
Inventories	$	8,139,816	$	4,207,990

For the years ended December 31, 2021, 2020 and 2019, the impairment loss recognized by the Company for slow-moving inventory with cost lower than net realizable value was $1,265,890, $719,608 and $959,334, respectively.