INVENTORY |
12 Months Ended | |||||||||||||||||||||||||
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Dec. 31, 2021 | ||||||||||||||||||||||||||
| Inventory Disclosure [Abstract] | ||||||||||||||||||||||||||
| INVENTORY |
NOTE 3 – INVENTORY
Inventory consists of the following at December 31, 2021
The Company has recognized a loss of $5,450,007 on inventory and inventory deposits for Grunt parts for the year ended December 31, 2021 to reduce inventories related to the vehicle to their net realizable value. Of this loss, $1,506,849 represents an accrual for purchase commitments for future payments due for inventory where deposits were paid as of December 31, 2021. The total additional payments due subsequent to December 31, 2021 are $2,972,686.
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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/disclosureRef
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