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INVENTORIES
3 Months Ended
Mar. 31, 2020
Inventory Disclosure [Abstract]  
INVENTORIES

8. INVENTORIES 

 

The components of inventories are summarized below: 

 

    March 31,     December 31,  
    2020     2019  
Raw materials   $ 2,341     $ 2,309  
Work in process     2,928       2,628  
Finished goods           46  
Provision for excess and obsolete inventory     (616 )     (429 )
Total inventories   $ 4,653     $ 4,554  

  

Inventories are stated at the lower of cost or a net realizable value determined on a FIFO method. A net realizable value adjustment of $113 and $418 was recognized in cost of goods sold of the T&D Solutions segment during the three months ended March 31, 2020 and the year ended December 31, 2019, respectively.