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Inventories | 3 Months Ended
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Aug. 25, 2024
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories primarily consist of in-process and finished goods related to sterile injectable pharmaceutical products in syringes, vials and cartridges. This includes premium, pharmaceutical grade HA in bulk form as well as formulated and filled syringes, vials and cartridges for injectable products used in treating a broad spectrum of medical conditions and procedures. Inventories are stated at the lower of cost (using the first-in, first-out method) or net realizable value. Inventories consisted of the following:
| August 25, 2024 |  | May 26, 2024
Finished goods | $ | 15,287 |  |  | $ | 14,924 |
Raw materials | 15,515 |  |  | 14,555 |
Work in process | 12,072 |  |  | 11,915 |
Gross inventories | 42,874 |  |  | 41,394 |
Less: Inventory reserve | (1,232) |  |  | (1,415) |
Inventories, net | $ | 41,642 |  |  | $ | 39,979 |
Adjustments to inventory are determined at the raw materials, work-in-process, and finished good levels to reflect obsolescence or impaired balances. Factors influencing inventory obsolescence include changes in demand, product life cycle, product pricing, physical deterioration, and quality concerns. The Company recorded adjustments of $1,217 and $776 to record inventory to its net realizable value as of August 25, 2024 and May 26, 2024, respectively. The Company’s inventory serves as part of the collateral for certain of the Company’s debt arrangements. Refer to Note 10 – Debt for additional discussion on the Company’s debt arrangements and related collateral.

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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://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/330/tableOfContent + Details
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