Quarterly report pursuant to Section 13 or 15(d)

Inventory, Net

v3.21.1
Inventory, Net
3 Months Ended
Mar. 31, 2021
Inventory Disclosure [Abstract]  
Inventory, Net

NOTE 5. INVENTORY, NET

 

Inventory consisted of the following:

 

    March 31,     December 31,  
    2021     2020  
Raw materials   $ 367,289     $ 634,085  
Work-in-progress     9,939       -  
Finished goods     459,094       539,169  
    $ 836,322     $ 1,173,254  

 

For the three months ended March 31, 2021 and 2020, depreciation recorded for fleet inventory was $23,886 and $0, respectively. Management has determined that no reserve for inventory obsolescence was required as of March 31, 2021 and December 31, 2020.