INVENTORY |
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes to Financial Statements | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Note 5. INVENTORY |
Inventory consists of raw materials for Edible Gardens herb product lines and IVXXs line of cannabis pure concentrates. Work-in-progress consists of live plants grown for Edible Gardens herb product lines, live plants grown at Black Oak, and IVXXs line of cannabis pure concentrates. Finished goods consists of IVXXs line of cannabis packaged to be sold into dispensaries. 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. As of December 31, 2016 and 2015, inventory consisted of the following:
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- References No definition available.
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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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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