Annual report pursuant to Section 13 and 15(d)

Inventory

v3.20.1
Inventory
 12 Months Ended
Dec. 31, 2019
Inventory Disclosure [Abstract]  
Inventory
Inventory

Inventory consists of finished goods stated at the lower of cost or net realizable value with cost determined on a first-in, first-out basis. The Company reviews the composition of inventory at each reporting period in order to identify obsolete, slow-moving, quantities in excess of expected demand, or otherwise non-saleable items. 

Inventory consisted of the following as of December 31, 2019 and 2018:
 
 
December 31,
 
 
2019
 
2018
Raw materials
 
$
—

 
$
11,392

Finished goods
 
46,705

 
497,949

Inventory reserve
 
(25,371
)
 
(191,418
)
Inventory, net of continuing operations
 
$
21,334

 
$
317,923



During the years ended December 31, 2019 and 2018, the Company recorded a related charge to cost of goods sold for obsolete inventory of continuing operations of $36,577 and $174,944, respectively.