Inventory

12 Months Ended

Dec. 31, 2019

Our inventory, net of allowance for obsolescence of $24,000 and $19,000 at December 31, 2019 and 2018, respectively, consisted of the following (in thousands):


	2019		2018
Raw materials - current	$	19,388	$	26,152
Work-in-process	1,692		3,016
Finished goods	—		1,022
Inventory - current	21,080		30,190
Raw materials - long term (net of allowances of $24 and $19, respectively	1,068		3,980
Inventory - total	$	22,148	$	34,170

There were seven newly completed compressor units available for sale in finished goods for a total of $1.0 million at December 31, 2018. These units were transferred from inventory to our rental fleet due to customer demands during 2019. In addition, our long-term inventory consists of raw materials that remain viable but which the Company does not expect to sell within the next year.

Inventory Allowance

Given its concerns about the industry backdrop, Company management determined during the third quarter of 2019 that an increase of its inventory allowance was necessary. Due to the slow moving nature or obsolescence of a portion of its long-term inventory and inventory related to the retirement of rental equipment, management recorded an increase of $3.4 million to the Company's inventory allowance reserve for costs that may not be recoverable in the future. During the

fourth quarter of 2019, management identified another $408,000 of slow moving or obsolete inventory. For the year ended December 31, 2019, inventory allowance totaled $3.8 million. We ended 2019 with an inventory allowance balance of $24,000.

A summary of our inventory allowance is as follows:


	Year Ended December 31,
($ in thousands)	2019		2018		2017
Beginning balance	$	(19)	$	(15)	$	(15)
Accruals	(3,758)		(4)		(273)
Write-offs	3,753		—		273
Ending balance	(24)		(19)		(15)