The Company capitalizes its purchases of saleable inventory of VASCEPA from suppliers that have been qualified by regulatory authorities. Inventories as of September 30, 2023 and December 31, 2022 consist of the following:


In thousands	September 30, 2023		December 31, 2022
Raw materials	$	146,514	$	126,391
Work in process		395		52,297
Finished goods		199,344		213,664
Total inventory (1)	$	346,253	$	392,352

(1) Total inventory consists of both current inventory and long-term inventory. During the nine months ended September 30, 2023, approximately $3.4 million of inventory was expensed through cost of goods sold for both product dating and non-product dating unsellable inventory. During the nine months ended September 30, 2022 approximately $9.6 million of finished goods were expensed through cost of goods sold related to unsellable inventory not related to product dating.

As of September 30, 2023 and December 31, 2022, the Company had $91.8 million and $163.6 million of long-term inventory, respectively, as consumption is expected beyond the Company's operating cycle of twelve months.