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Inventories, net
 12 Months Ended
Dec. 31, 2024
Notes and other explanatory information [abstract]  
Inventories, net

  

7.Inventories, net

 

   As of December 31, 2024 
       Allowance for     
   Cost   valuation loss   Book value 
Merchandise inventory  $568,871   $(13,191)  $555,680 

   

   As of December 31, 2023 
       Allowance for     
   Cost   valuation loss   Book value 
Merchandise inventory  $189,930   $(2,328)  $187,602 

  

The cost of inventories recognized for the year:

 

   As of   As of 
   December 31, 2024   December 31, 2023 
Cost of goods sold  $11,921,857   $20,893,411 
Loss on (reversal of) inventory valuation   11,324    (37,569)
Cost of inventories  $11,933,181   $20,855,842 

 

  a) Reversal of allowance for inventory valuation and obsolescence loss was recognized due to disposal of certain inventories which were previously provided with allowance for valuation loss.
     
  b) No inventories of the Group were pledged to others.
     
  c) The effects from disposal of investments resulted in the allowance for valuation loss decreases $1,245,621 in 2023.