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Inventory | 12 Months Ended
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Dec. 31, 2021
Inventory Disclosure [Abstract] |
Inventory | Note 8 — Inventory Inventories are stated at the lower of cost or net realizable value with cost principally determined by the weighted average cost method on a first in first out basis. Such costs include the acquisition cost for raw materials and operating supplies. The Company’s standard payment terms with suppliers may require making payments in advance of delivery of the Company’s products. The prepaid inventory is short-term, non-bearing interest that is applied to the purchase of products once it is delivered. The Company reserves for slow-moving inventory and inventory that is being evaluated under the Company’s quality control process. The reserves are based upon management’s expected method of disposition. Inventory consisted of the following as of December 31, 2021 and December 31, 2020:
(Dollar Amounts in Thousands) |  | December 31, 2021 |  |  | December 31, 2020 |
Raw materials |  | $ | 6,393 |  |  | $ | 4,337 |
Prepaid inventory |  |  | 2,237 |  |  |  | 833 |
Finished goods |  |  | 12,810 |  |  |  | — |
Gross inventory |  |  | 21,440 |  |  |  | 5,170 |
Inventory reserves |  |  | (942 | ) |  |  | — |
Total inventory, net |  | $ | 20,498 |  |  | $ | 5,170 |
Inventory Reserves The Company establishes inventory reserves for obsolete, slow moving and defective items. Inventory reserves for obsolete, slow moving or defective items are calculated as the difference between the cost of inventory and its estimated net realizable value. Changes in inventory reserve are as follows:
(Dollar Amounts in Thousands) |  | December 31, 2021 |  |  | December 31, 2020 |
Inventory reserves – beginning of the year |  | $ | — |  |  | $ | — |
Increase in inventory reserves |  |  | 942 |  |  |  | — |
Inventory write-offs |  |  | — |  |  |  | — |
Inventory reserves – end of year |  | $ | 942 |  |  | $ | — |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI https://asc.fasb.org/topic&trid=2126998 + Details
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