Quarterly report pursuant to Section 13 or 15(d)

8. Inventory

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8. Inventory
3 Months Ended
Mar. 31, 2021
Inventory Disclosure [Abstract]  
Inventory

8. Inventory

 

As of March 31, 2021, and December 31, 2020, respectively, the Company had $3,345,353 and $2,090,887 of finished goods inventory. As of March 31, 2021 the Company had $911,246 of work in process and $1,331,658 of raw materials. As of December 31, 2020, the Company had $500,917 of work in process and $27,342 of raw materials. The Company uses the FIFO inventory valuation method. As of March 31, 2021 and December 31, 2020, the Company did not recognize any impairment for obsolescence within its inventory.