Quarterly report pursuant to Section 13 or 15(d)

5. INVENTORIES

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5. INVENTORIES
3 Months Ended
Mar. 31, 2013
Inventory Disclosure [Abstract]  
NOTE E - INVENTORIES

Components of inventories as of March 31, 2013 and December 31, 2012 are as follows:

 

    March 31,
2013
    December 31,
2012
 
Merchandise purchased for resale   $ 1,162,999     $ 768,812  
Reserve for obsolescence     (119,300 )     (113,900 )
Inventory, net   $ 1,043,699     $ 654,912