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Inventories | 6 Months Ended
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Jun. 30, 2020
Inventories [Abstract] |
Inventories |
4. | Inventories
Inventories as of December 31, 2019 and June 30, 2020 consisted of the following:
|  | December 31, |  |  | June 30, |
|  | 2019 |  |  | 2020 |
Raw materials |  | $ | 482,836 |  |  | $ | 542,413 |
Work in progress |  |  | 1,254,490 |  |  |  | 1,042,250 |
Finished goods |  |  | 6,929,388 |  |  |  | 3,774,913 |
|  | $ | 8,666,714 |  |  | $ | 5,359,576 |
During the three months ended June 30, 2019 and 2020, write-downs of obsolete inventories to lower of cost or market of $494,896 and $47,977, respectively, were charged to cost of revenues. During the six months ended June 30, 2019 and 2020, write-downs of obsolete inventories to lower of cost or market of $557,668 and $457,039, respectively, were charged to cost of revenues.

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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 + Details
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