| INVENTORIES |
NOTE
2. INVENTORIES
Inventories
consisted of the following at September 30, 2022 and December 31, 2021:
SCHEDULE OF INVENTORIES
| | |
September 30,
2022 | | |
December 31,
2021 | |
| Raw material and component parts– video solutions segment | |
$ | 4,960,740 | | |
$ | 3,062,046 | |
| Work-in-process– video solutions segment | |
| 4,649 | | |
| — | |
| Finished goods – video solutions segment | |
| 8,071,218 | | |
| 8,410,307 | |
| Finished goods – ticketing segment | |
| 1,698,733 | | |
| 2,102,272 | |
| Subtotal | |
| 14,735,340 | | |
| 13,574,625 | |
| Reserve for excess and obsolete inventory– video solutions segment | |
| (3,227,488 | ) | |
| (3,353,458 | ) |
| Reserve for excess and obsolete inventory – ticketing segment | |
| (543,936 | ) | |
| (561,631 | ) |
| Total inventories | |
$ | 10,963,916 | | |
$ | 9,659,536 | |
Finished
goods inventory includes units held by potential customers and sales agents for test and evaluation purposes. The cost of such units
totaled $181,381 and $153,976 as of September 30, 2022 and December 31, 2021, respectively.
|