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Inventories

12 Months Ended

May 31, 2018

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

As of May 31, 2018 and 2017, inventories consisted of the following:

	May 31, 2018				May 31, 2017
(in thousands)
Raw materials	$	18,678			$	17,563
Work in process	10,808				12,602
Finished goods	19,430				24,341
Total	$	48,916			$	54,506

The Company periodically reviews its inventory for both obsolescence and loss of value. The Company makes assumptions about the future demand for and market value of the inventory. Based on these assumptions, the Company estimates the amount of obsolete, expiring and slow moving inventory. The total inventory reserve at May 31, 2018 and 2017 was $6.1 million and $7.3 million, respectively. Of the $6.1 million reserve at May 31, 2018, $1.6 million relates to the inventory reserve for Acculis inventory as a result of the recall announced in the fourth quarter of fiscal year 2017 and $0.7 million relates to a specific reserve related to the termination of an agreement with a Japanese distributor in the second quarter of fiscal year 2018. Of the $7.3 million in the prior year, $2.4 million relates to the reserve for Acculis inventory.

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- References

No definition available.

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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