| ACCRUED AND OTHER CURRENT LIABILITIES |
ACCRUED AND OTHER CURRENT LIABILITIES Accrued and other current liabilities consisted of the following:
| | | | | | | | | | | | | June 30, 2024 | | December 31, 2023 | | Compensation and related costs | $ | 3,028,702 | | | $ | 2,083,808 | | | Other | 3,306,569 | | | 2,778,932 | | | Total accrued and other current liabilities | $ | 6,335,271 | | | $ | 4,862,740 | |
Warranties
Warranty liability activity consisted of the following for the periods indicated:
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2024 | | 2023 | | 2024 | | 2023 | | Warranty liability, beginning of period | $ | 599,227 | | | $ | 2,066,588 | | | $ | 1,902,647 | | | $ | 2,207,674 | | | Warranty costs incurred | (43,099) | | | (307,500) | | | (128,293) | | | (595,313) | | Provision for warranty(1) | 86,198 | | | 163,492 | | | (1,132,028) | | | 310,219 | | | Warranty liability, end of period | $ | 642,326 | | | $ | 1,922,580 | | | $ | 642,326 | | | $ | 1,922,580 | |
(1) We record a warranty liability for the products sold by us, which includes our best estimate of the projected costs to repair or replace items under warranties and recalls if identified. The negative provision for warranty for the six months ended June 30, 2024, is driven by the expiration of the warranty liability related to non-current truck models.
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