INVENTORIES, NET

9 Months Ended

12 Months Ended

Dec. 31, 2021

Mar. 31, 2021

Inventory Disclosure [Abstract]

INVENTORIES, NET

NOTE 4 - INVENTORIES, NET

Inventories are comprised of the following components:

	December 31,		March 31,
	2021		2021
Finished Goods	$	8,427,000	$	5,348,000
Inventory in Transit		1,655,000		250,000
Estimated Amount of Future Returns		1,978,000		528,000
Subtotal		12,060,000		6,126,000
Less:Inventory Reserve		934,000		636,000
Inventories, net	$	11,126,000	$	5,490,000

THE SINGING MACHINE COMPANY, INC AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2021 and 2020

(Unaudited)

NOTE 3 –  INVENTORIES, NET

Inventories are comprised of the following components:

	March 31,		March 31,
	2021		2020
Finished Goods	$	5,400,000	$	6,600,000
Inventory in Transit		200,000		100,000
Estimated Amount of Future Returns		500,000		1,300,000
Subtotal		6,100,000		8,000,000
Less: Inventory Reserve		600,000		400,000
Total Inventories	$	5,500,000	$	7,600,000