Quarterly report pursuant to Section 13 or 15(d)

Inventory

v3.7.0.1
Inventory
3 Months Ended
Apr. 30, 2017
Inventory Disclosure [Abstract]  
Inventory Disclosure [Text Block]
4.
Inventory
 
Inventory of the Company consisted of the following at April 30, 2017 and January 31, 2017:
 
 
 
April 30, 2017
 
January 31, 2017
 
Finished goods
 
$
2,747,157
 
$
2,604,597
 
Less: allowance for obsolete inventory
 
 
(375,784)
 
 
(375,784)
 
Total inventory
 
$
2,371,373
 
$
2,228,813
 
 
Balances at April 30, 2017 and January 31, 2017 are recorded at historical cost, less amounts for potential declines in value. At April 30, 2017, management has recorded an allowance for obsolescence of $375,784 (January 31, 2017: $375,784) to reduce inventory to its estimated net realizable value.