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Inventory
 9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Inventory Disclosure [Abstract]    
Inventory

Note 3 – Inventory

 

Inventory consisted of the following:

 

   September 30,   December 31, 
   2021   2020 
Finished goods  $319,335   $201,778 
Work in progress   2,595    4,231 
Raw materials   237,705    214,145 
Allowance for excess & obsolete inventory   (79,281)   (93,045)
Inventory, net  $480,354   $327,109 

 

Overhead expenses of $17,674 and $17,974 were included in the inventory balance as of September 30, 2021, and December 31, 2020, respectively.

 

 

Surna Inc.

Notes to Condensed Consolidated Financial Statements

September 30, 2021

(in US Dollars except share numbers)

(Unaudited)

 

Advance payments on inventory purchases are recorded in prepaid expenses until title for such inventory passes to the Company. Prepaid expenses included approximately $879,000 and $916,000 in advance payments for inventory for the periods ended September 30, 2021, and December 31, 2020, respectively.

 

Note 5 – Inventory

 

Inventory consisted of the following:

 

   2020   2019 
   As of December 31, 
   2020   2019 
Finished goods  $201,778   $1,041,369 
Work in progress   4,231    3,851 
Raw materials   214,145    257,399 
Allowance for excess & obsolete inventory   (93,045)   (71,376)
Inventory, net  $327,109   $1,231,243 

 

Overhead expenses of $17,974 and $31,831 were included in the inventory balance as of December 31, 2020 and 2019, respectively.