Quarterly report pursuant to Section 13 or 15(d)

Inventory

v3.20.1
Inventory
3 Months Ended
Mar. 28, 2020
Inventory Disclosure [Abstract]  
Inventory

Note 4: Inventory

Appliances held for sale are stated at the lower of cost, determined on a specific identification basis, or net realizable value. Inventory raw material - chips, are stated at the lower of average cost or net realizable value. Total inventory consists of the following as of March 28, 2020 and December 28, 2019:

 

 

 

March 28,

2020

 

 

December 28,

2019

 

Appliances held for resale

 

$

1,113

 

 

$

1,148

 

Inventory - raw material - chips

 

 

200

 

 

 

200

 

Total inventory

 

$

1,313

 

 

$

1,348

 

 

We provide estimated provisions for the obsolescence of inventories, including adjustments to net realizable value, based on various factors, including the age of such inventory and our management’s assessment of the need for such provisions. We review historical inventory aging reports and margin analyses in determining our provision estimate. A revised cost basis is used once a provision for obsolescence is recorded. At March 28, 2020 and December 28, 2019, we do not have an inventory reserve.