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Inventories

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

INVENTORIES

6. INVENTORIES

Inventories as of December 31, 2019 and 2018 consist of the following:

		2019				2018
Raw materials		$	25,985			$	27,638
Work in progress			779				902
Finished goods			1,060,615				1,320,562
Total inventories		$	1,087,379			$	1,349,102
Less: inventory impairment loss			(2,363	)			-
Inventories, net			1,085,016				1,349,102

During the years ended December 31, 2019, 2018 and 2017, write-downs of inventories to lower of cost or net realizable value of $2,363, $0 and $(73,860), respectively, were (credited against) charged to costs of revenue in relation to the Company's operations. Subsequent sale of impaired inventory items is recorded as credits to inventory write-downs previously recorded.

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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