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Inventory

6 Months Ended

Jun. 30, 2022

Inventory Disclosure [Abstract]

Inventory

NOTE 4 – Inventory

Inventory was comprised of the following as of June 30, 2022 and December 31, 2021:

Schedule of Inventory

		June 30,				December 31,
		2022				2021
Inventory		$	13,649,741			$	5,852,658
Inventory-In-Transit			1,305,517				1,373,926
Allowance			(353,912	)			(184,720	)
Total		$	14,601,346			$	7,041,864

For the fiscal period June 30, 2022 and December 31, 2021, the Company recorded inventory provision as follows:

Schedule of Inventory Provision

		June 30,				December 31,
		2022				2021
Allowance of inventory
Beginning balance		$	184,720			$	431,313
Provision			228,296				116,359
Write off			(59,104	)			(362,952	)
Ending balance		$	353,912			$	184,720

HOUR LOOP, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2022

(Unaudited)

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- References

No definition available.

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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 https://asc.fasb.org/topic&trid=2126998

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