|6 Months Ended|
Jun. 30, 2023
The Company’s inventories consisted of the following:
During the three months ended June 30, 2023, the Company shifted its sales and operation strategies. As a result, the Company recorded a one-time adjustment for inventory valuation and excess and obsolete inventory of $4,878. During the three and six months ended June 30, 2023, the Company recorded total inventory adjustments of $4,878 and $5,103, respectively. During the three and six months ended June 30, 2022, the Company recorded inventory adjustments of $236 and $516, respectively. These amounts are included in cost of goods sold on the condensed consolidated statements of operations and comprehensive loss.
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.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef