Inventory

3 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

Inventory

NOTE 3 - Inventory

Inventory was comprised of the following as of March 31, 2024 and December 31, 2023, respectively:

	March 31, 2024			December 31, 2023
Inventory	$	10,690,662		$	13,377,530
Inventory-in-transit		1,564,885			1,574,911
Allowance		(637,058	)		(675,886	)
Total	$	11,618,489		$	14,276,555

As of March 31, 2024 and December 31, 2023, $637,058 and $675,886, was written down from the cost of inventories to their net realizable values, respectively. Full inventory allowance is recorded for the inventory SKU not sold for more than one year.

The allowance of inventory is recorded under cost of goods sold in the income statement.

HOUR LOOP, INC.

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS