Quarterly report pursuant to Section 13 or 15(d)

E. INVENTORIES

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E. INVENTORIES
6 Months Ended
Jun. 30, 2014
Inventory Disclosure [Abstract]  
NOTE E - INVENTORY

Components of inventories as of June 30, 2014 and December 31, 2013 are as follows:

 

    June 30,
2014
    December 31,
2013
 
Merchandise purchased for resale   $ 1,079,359     $ 997,332  
Reserve for obsolescence     (208,550 )     (57,950 )
Inventory, net   $ 870,809     $ 939,382