INVENTORIES, NET

12 Months Ended

Mar. 31, 2022

Inventory Disclosure [Abstract]

INVENTORIES, NET

NOTE 4 – INVENTORIES, NET

Inventories are comprised of the following components:

	March 31,		March 31,
	2022		2021
Finished Goods	$	10,600,000	$	5,400,000
Inventory in Transit		3,300,000		200,000
Estimated Amount of Future Returns		700,000		500,000
Subtotal		14,600,000		6,100,000
Less: Inventory Reserve		400,000		600,000
Total Inventories	$	14,200,000	$	5,500,000

THE SINGING MACHINE COMPANY, INC AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2022 and 2021