General form of registration statement for all companies including face-amount certificate companies

Inventory

v3.22.2.2
Inventory
 6 Months Ended 12 Months Ended
Jun. 30, 2022
Dec. 31, 2021
Inventory Disclosure [Abstract]    
Inventory

Note 4 - Inventory

 

As of June 30, 2022 and December 31, 2021, inventory consisted of the following:

 

    As of     As of  
    June 30,
2022		     December 31,
2021		  
Raw materials   $ 2,471,495     $ 2,188,284  
Work in process     1,918,469       2,128,894  
Finished goods     2,262,563       2,898,803  
Total Inventory, net   $ 6,652,527     $ 7,215,981  

 

The charge to Cost of goods sold for obsolete inventory was $214,315 and $821,782 for the three and six months ended June 30, 2022, respectively.

 

Note 4 - Inventory

 

As of December 31, 2021 and 2020 inventory consisted of the following:

 

    As of     As of  
    December 31,     December 31,  
    2021     2020  
Raw materials   $ 2,188,284     $ 1,068,259  
Work in process     2,128,894       190,610  
Finished goods     2,898,803       2,114,164  
Total Inventory   $ 7,215,981     $ 3,373,033  

 

As of December 31, 2021 and 2020, the reserve for slow moving and obsolete inventory was $170,482 and $444,485, respectively.