INVENTORIES, NET

3 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

INVENTORIES, NET

NOTE 5 - INVENTORIES, NET

Inventories are comprised of the following components:

	June 30, 2023		March 31, 2023
Finished Goods	$	10,563,000	$	9,364,000
Inventory in Transit		639,000		621,000
Estimated Amount of Future Returns		116,000		555,000
Subtotal		11,318,000		10,540,000
Less: Inventory Reserve		710,000		900,000
Total Inventories	$	10,608,000	$	9,640,000

THE SINGING MACHINE COMPANY, INC AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023 and 2022

(Unaudited)