BUSINESS CONCENTRATION |
12 Months Ended | ||||||
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Dec. 31, 2023 | |||||||
| Risks and Uncertainties [Abstract] | |||||||
| BUSINESS CONCENTRATION |
There was no single customer that amounted to more than 10% of the Company’s total sales for the years ended December 31, 2023, 2022 and 2021.
As of December 31, 2023, one customer represented 19% of the Company’s total accounts receivable balance. As of December 31, 2022, one customer represented 10% of the Company’s total accounts receivable balance.
For the year ended December 31, 2023, the Company made inventory purchases of 19% from one vendor. For each year ending December 31, 2022 and 2021, approximately 37% and 36%, respectively, of the Company’s inventory purchases were purchased from its two largest vendors.
There were no single vendor that amounted to more than 10% of the Company’s accounts payable and accrued expenses as of December 31, 2023 and 2022.
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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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