Company: LASE
Filing Date: 2025-12-23
Form Type: 10-Q
Source: 0001493152-25-028857
Chunk: 21

Company: Laser Photonics Corp
Filing Date: 2025-12-23
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 in the process of being converted to
a certifiable lot of saleable products through the manufacturing and/or equipment assembly process. Inventories include parts and components
that may be specialized in nature and subject to rapid obsolescence. The Company periodically reviews the quantities and carrying values
of inventories to assess whether the inventories are recoverable. Because of the Company’s vertical integration, a significant
or sudden decrease in sales activity could result in a significant change in the estimates of excess or obsolete inventory valuation.
The costs associated with provisions for excess quantities, technological obsolescence, or component rejections are charged to the cost
of sales as incurred.

Work
in process inventory - Work in process inventory consists of inventory that is partially manufactured or not fully assembled
as of the date of these financial statements. This equipment, machines, parts, frames, lasers and assemblies are items not ready for
use or resale. Costs are accumulated as work in process until sales ready items are compete when it is moved to finished goods inventory.
Amounts in this account represent items at various stages of completion at the date of these financial statements.

Finished
goods inventory - Finished goods inventory consists of purchased inventory that were fully manufactured, assembled or in saleable
condition. Finished goods inventory is comprised of items that are complete and ready for commercial application without further cost
other that delivery and setup. Finished goods inventory includes demo and other equipment, lasers, software, machines, parts or assemblies.

Consignment
inventory – Consignment inventory includes amounts held on consignment at third party locations of Method Tools, is properly
recorded, valued, and disclosed. Management has evaluated the existence, ownership, and valuation of consignment inventory and confirms
that such inventory remains the property of the Company until sold and is included in “Inventories” on the accompanying balance
sheets.

    11

On
September 30, 2025, and December 31, 2024, respectively, our inventory consisted of the following:

 SCHEDULE OF INVENTORY

    As of 
September 30,  
    As of 
December 31, 
  
    Inventory 
    2025  
    2024 

    (Unaudited)  
    (Audited) 
  
    Equipment Parts Inventory 
    $1,844,223  
    $1,820,347 
  
    Finished Goods Inventory 
     763,160  
     999,100 
  
    Work in process Inventory 
     94