Inventories

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

INVENTORIES

3. INVENTORIES

The Company's inventories at September 30, 2020 and December 31, 2019 consisted of the following:

	September 30, 2020			December 31, 2019
Raw materials	$	5,609,324		$	3,872,752
Finished goods		7,002,858			5,926,525
Inventories, gross		12,612,182			9,799,277
Inventory reserves		(291,352	)		(244,206	)
Inventories, net	$	12,320,830		$	9,555,071

The inventory reserves shown in the table above reflect slow moving and obsolete inventory.

The Company operates a vendor managed inventory program with one of its customers to improve the promotion of the Company's products. The Company manages the inventory levels at this customer's warehouses and recognizes revenue as the products are sold by the customer. The inventories managed at the customer's warehouses, which are included in inventories, net, amounted to approximately $749,000 and $562,000 at September 30, 2020 and December 31, 2019, respectively.