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

Inventory

v3.21.4
Inventory
 9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Inventory Disclosure [Abstract]    
Inventory

Note 4 - Inventory

 

As of September 30, 2021 and December 31, 2020, inventory consisted of the following:

 

 

 

As of

 

 

As of

 

 

 

September 30,

 

 

December 31,

 

 

 

2021

 

 

2020

 

Raw materials

 

$

1,942,674

 

 

$

1,068,259

 

Work in process

 

 

1,212,711

 

 

 

190,610

 

Finished goods

 

 

2,359,145

 

 

 

2,114,164

 

Total Inventory

 

$

5,514,530

 

 

$

3,373,033

 

 

As of September 30, 2021 and December 31, 2020, the reserve for slow moving and obsolete inventory was $232,951 and $444,485, respectively.

 

 

4 INVENTORY

 

Inventory consists of the following as of December 31:

 

    2020     2019  
             
Raw materials   $ 1,068,259     $ 344,315  
Work in process     190,610       492,082  
Finished goods     2,114,164       927,483  
Total inventory   $ 3,373,033     $ 1,763,880  

 

During the year ended December 31, 2020 and 2019, the allowance for unsalable inventory which is included in cost of goods sold was $444,485 and $698,224, respectively.