Annual report pursuant to Section 13 and 15(d)

INVENTORY

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INVENTORY
12 Months Ended
Dec. 31, 2023
Inventory Disclosure [Abstract]  
INVENTORY

5. INVENTORY

 

Inventory at December 31, 2023 and 2022 was comprised of the following:

 

    2023     2022  
    December 31,  
    2023     2022  
             
Vineyard in process   $ 713,104     $ 516,096  
Wine in process     622,167       797,862  
Finished wine     37,636       40,735  
Clothes and accessories     638,023       552,581  
Other     207,686       82,423  
Inventory gross     2,218,616       1,989,697  
Less: Reserve for obsolescense     (186,736 )     (100,735 )
Total   $ 2,031,880     $ 1,888,962  

 

The Company had deposits for inventory purchases in the amount of $161,531 and $0 as of December 31, 2023 and 2022, respectively.

 

The Company recorded a provision for obsolete inventory in the amount of $86,001 and $115,563 during the years ended December 31, 2023 and 2022, respectively, related to its clothing and accessories inventory.

 

 

GAUCHO GROUP HOLDINGS, INC. AND SUBSIDIARIES

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS