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INVENTORIES | 12 Months Ended
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Dec. 31, 2020
Inventory Disclosure [Abstract] |
INVENTORIES | INVENTORIES Inventories consisted of the following:
(In thousands) | December 31, 2020 |  | December 31, 2019
Raw materials | $ | 2,243 |  |  | $ | 2,935 |
Work in process | 1,109 |  |  | 1,209 |
Finished goods | 1,087 |  |  | 1,316 |
Gross inventories | 4,439 |  |  | 5,460 |
Less: provision for obsolescence | (388) |  |  | (392) |
Inventories, net | $ | 4,051 |  |  | $ | 5,068 |
During 2020, the Company reassessed its forecasted product mix due to COVID-19, increased availability of newer handpiece designs, and improved timing of product registrations in some of our foreign markets. As a result, certain products were reduced to a lower carrying value, and some components were also written down as the Company determined to cease further production on these older models. The total impairment was approximately $400,000 and is included in cost of sales in the accompanying Consolidated Statement of Operations for 2020. Later in 2020, the Company's forecasts were revised, and it subsequently utilized a portion of the written down components and approximately $100,000 of the impairment was recovered through the sale of the corresponding manufactured handpieces.

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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 http://asc.fasb.org/topic&trid=2126998 + Details
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