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Inventories | 12 Months Ended
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Dec. 31, 2018
Inventory Disclosure [Abstract] |
Inventories | Inventories The Company's net inventories consisted of the following as of December 31:
|  | 2018 |  | 2017
Raw materials and work in process |  | $ | 18,378,450 |  | $ | 3,156,002
Consigned inventory |  | 937,006 |  | 249,964
Finished goods, net of reserve |  | 8,511,887 |  | 3,331,882
Total inventories |  | 27,827,343 |  | 6,737,848
less non-current inventories |  | (15,749,000) |  | —
Total inventories classified as current |  | $ | 12,078,343 |  | $ | 6,737,848
The Company continually evaluates inventories for potential losses due to expired, short-dated or slow-moving inventory by comparing sales history and sales projections to the inventory on hand. When evidence indicates the carrying value of a product may not be recoverable, a charge is recorded to reduce the inventory to its current net realizable value. At December 31, 2018 and 2017, the Company has recognized and maintained cumulative charges for potential obsolescence and discontinuance losses of approximately $0.3 million and $0.2 million, respectively. In connection with the acquisition of certain product rights related to the Kristalose brand, the Company is responsible for the purchase of the active pharmaceutical ingredient ("API") for Kristalose and maintains the inventory at the third-party packagers. As the API is consumed in production, the value of the API is transferred from raw materials to finished goods. API for the Company's Vaprisol brand is also included in the raw materials inventory total at December 31, 2018 and 2017. Consigned inventory represents Authorized Generic inventory stored with Perrigo until shipment. As part of the Vibativ acquisition, Cumberland acquired API and work in process inventories that are classified as non-current and included in the raw materials and work in process inventory at December 31, 2018. Non-current inventories also include $0.8 million in Vibativ finished goods.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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