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INVENTORIES, NET | 9 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2021 | Mar. 31, 2021
Inventory Disclosure [Abstract] |  |
INVENTORIES, NET | NOTE 4 - INVENTORIES, NET Inventories are comprised of the following components: SCHEDULE OF INVENTORY
|  | December 31, |  |  | March 31, |
|  | 2021 |  |  | 2021 |
Finished Goods |  | $ | 8,427,000 |  |  | $ | 5,348,000 |
Inventory in Transit |  |  | 1,655,000 |  |  |  | 250,000 |
Estimated Amount of Future Returns |  |  | 1,978,000 |  |  |  | 528,000 |
Subtotal |  |  | 12,060,000 |  |  |  | 6,126,000 |
Less:Inventory Reserve |  |  | 934,000 |  |  |  | 636,000 |
Inventories, net |  | $ | 11,126,000 |  |  | $ | 5,490,000 |
THE SINGING MACHINE COMPANY, INC AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS December 31, 2021 and 2020 (Unaudited) | NOTE 3 – INVENTORIES, NET Inventories are comprised of the following components: SCHEDULE OF INVENTORY
|  | March 31, |  |  | March 31, |
|  | 2021 |  |  | 2020 |
Finished Goods |  | $ | 5,400,000 |  |  | $ | 6,600,000 |
Inventory in Transit |  |  | 200,000 |  |  |  | 100,000 |
Estimated Amount of Future Returns |  |  | 500,000 |  |  |  | 1,300,000 |
Subtotal |  |  | 6,100,000 |  |  |  | 8,000,000 |
Less: Inventory Reserve |  |  | 600,000 |  |  |  | 400,000 |
Total Inventories |  | $ | 5,500,000 |  |  | $ | 7,600,000 |

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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 + Details
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