Quarterly report pursuant to Section 13 or 15(d)

INVENTORY

v3.23.2
INVENTORY
 6 Months Ended
Jun. 30, 2023
Inventory Disclosure [Abstract]  
INVENTORY

4. INVENTORY

 

Inventory at June 30, 2023 and December 31, 2022 was comprised of the following:

 

   

June 30,

2023

    

December 31,

2022

  
             
Vineyard in process   $ 240,619     $ 516,096  
Wine in process     1,031,823       797,862  
Finished wine     42,370       40,735  
Clothes and accessories     720,569       552,581  
Other     125,665       82,423  
Inventory gross     2,161,046       1,989,697  
Less: Reserve for obsolescence     (200,058 )     (100,735 )
Total   $ 1,960,988     $ 1,888,962  

 

The Company recorded a provision for obsolete inventory in the amount of $93,389 and $99,323 during the three and six months ended June 30, 2023, respectively. There was no provision for obsolete inventory recognized during the three and six months ended June 30, 2022.

 

 

GAUCHO GROUP HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)