|12 Months Ended|
Dec. 31, 2021
The Company’s inventory includes the following:
Inventory reserve as of December 31, 2021 and 2020 was $2,267,192 and $nil, respectively.
Amount of inventory included in cost of goods sold during the years ended December 31, 2021 and 2020, was $156,063,649 and $62,205,497, respectively. There were no inventory write-downs taken during the years ended.
For the years ended December 31, 2021 and 2020, $43,863,688 and $nil, respectively, of expenses relating to the incremental costs to acquire cannabis inventory in a business combination is recognized in cost of sales on the statements of operations. This relates to the one-time adjustment of cannabis inventory from acquiree historical cost to fair value as part of the purchase price allocation.
The entire disclosure for inventories.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef