| INVENTORIES, NET |
NOTE
5 － INVENTORIES, NET
SCHEDULE OF INVENTORIES, NET
| | |
2024 | | |
2025 | |
| | |
As
of December 31, | |
| | |
2024 | | |
2025 | |
| Inventories at warehouses | |
$ | 1,736,280 | | |
$ | 2,003,528 | |
| Inventories at showrooms | |
| 484,236 | | |
| 481,389 | |
| Inventories,
gross | |
| 2,220,516 | | |
| 2,484,917 | |
| Less: allowance for obsolete inventories | |
| (973,838 | ) | |
| (1,007,472 | ) |
| Goods in transit | |
| 6,785,411 | | |
| 8,122,045 | |
| Total | |
$ | 8,032,089 | | |
$ | 9,599,490 | |
The
following table presents the activities in the allowance for obsolete inventories:
SCHEDULE
OF ALLOWANCE FOR OBSOLETE INVENTORIES
| | |
2024 | | |
2025 | |
| | |
As
of December 31, | |
| | |
2024 | | |
2025 | |
| Balance at beginning of year | |
$ | 757,613 | | |
$ | 973,838 | |
| Allowance for obsolete inventories | |
| 279,203 | | |
| 84,680 | |
| Write-offs during the year | |
| (54,446 | ) | |
| (56,420 | ) |
| Foreign translation adjustment | |
| (8,532 | ) | |
| 5,374 | |
| Balance at end of year | |
$ | 973,838 | | |
$ | 1,007,472 | |
For
the years ended December 31, 2023, 2024 and 2025, the Company evaluated the probable losses on inventories and recorded the provision
for allowance for obsolete inventories of $434,729, $279,203 and $84,680, respectively.
|