General form of registration statement for all companies including face-amount certificate companies

INVENTORY

v2.4.1.9
INVENTORY
 3 Months Ended 12 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Notes to Financial Statements    
Note 6. INVENTORY

Inventory consists of raw materials for Edible Garden’s herb product lines. Cost of goods sold is calculated using the average costing method. We review our inventory periodically to determine net realizable value. We write down inventory, if required, based on forecasted demand. These factors are impacted by market and economic conditions, new products introductions, and require estimates that may include uncertain elements. Inventory at March 31, 2015 and December 31, 2014 consisted of the following: 

    March 31,     December 31,  
    2015     2014  
Raw Materials   $ 318,020     $ 479,682  
Work-In-Progress     234,054       190,498  
    $ 552,074     $ 670,180  

 

Inventory consist of raw materials for the Company’s herb product lines. Cost of goods sold are calculated using the average costing method. The Company reviews its inventory periodically to determine net realizable value. The Company writes down inventory, if required, based on forecasted demand. These factors are impacted by market and economic conditions, new products introductions and require estimates that may include uncertain elements. Inventory at December 31, 2014 and December 31, 2013 consisted of the following:

 

    December 31,    

December

31,

  
    2014     2013  
Raw Materials   $ 479,682     $ -  
Work-In-Progress     190,498       -  
    $ 670,180     $ -