Inventories

3 Months Ended

Mar. 31, 2021

Inventory Disclosure [Abstract]

INVENTORIES

2. INVENTORIES

The Company’s inventories at March 31, 2021 and December 31, 2020 consisted of the following:

	March 31, 2021			December 31, 2020
Raw materials	$	6,209,489		$	5,393,961
Finished goods		8,325,443			8,072,176
Inventories, gross		14,534,932			13,466,137
Inventory reserves		(300,137	)		(290,381	)
Inventories, net	$	14,234,795		$	13,175,756

The inventory reserves shown in the table above reflect slow moving and obsolete inventory.

The Company operates a vendor managed inventory program with one of its customers to improve the promotion of the Company’s products. The Company manages the inventory levels at this customer’s warehouses and recognizes revenue as the products are sold by the customer. The inventories managed at the customer’s warehouses, which are included in inventories, net, amounted to approximately $712,000 and $629,000 at March 31, 2021 and December 31, 2020, respectively.