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INVENTORIES
 12 Months Ended
Dec. 31, 2017
INVENTORIES  
INVENTORIES

 

5.INVENTORIES

 

Inventories consisted of the following:

 

 

 

As of December 31,

 

 

 

2016

 

2017

 

 

 

 

 

 

 

Educational merchandise

 
3,043

 
3,549

 

 

 

 

 

 

 

 

 
3,043

 
3,549

 

 

 

 

 

 

 

 

No inventory reserve was provided for the years ended December 31, 2015, 2016 and 2017.