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Inventory
6 Months Ended
Jun. 30, 2022
Inventory Disclosure [Abstract]  
Inventory

Note 7 – Inventory

 

Inventory consists of electronic product ready for sale on Amazon. It is stated at the lower of cost or net realizable value and all inventories were returned product from online customers. We value our inventory using the weighted average costing method. Our Company’s policy is to include as a part of inventory any freight incurred to ship the product from our contract vendors to our warehouses. Outbound freights costs related to shipping costs to our customers are considered period costs and reflected in selling, general and administrative expenses. We regularly review inventory and consider forecasts of future demand, market conditions and product obsolescence.

 

If the estimated realizable value of our inventory is less than cost, we make provisions in order to reduce it carrying value to its estimated market value. No write down to net realizable value was necessary for the period ended June 30, 2022 and December 31, 2021. The Company has $17,053 finished goods and $43,872 inventory in transit as of June 30, 2022 and $0 inventory as of December 31, 2021 (audited).