INVENTORIES

9 Months Ended

Dec. 31, 2019

INVENTORIES

INVENTORIES

6.    INVENTORIES

	December 31,		March 31,
	2019		2019
	(Unaudited)
Automobiles (i)	$	1,526,077	$	1,508,244

(i) As of December 31, 2019, the Company owned three automobiles with a total value of $36,220 for leasing purposes, 104 automobiles with a total value of $1,236,312 for sale, and 21 automobiles with a total value of $253,545 for either leasing or sale.

As of December 31, 2019 and March 31, 2019, management compared the cost of automobiles with their net realizable value and determined no inventory write-down was necessary for these automobiles.