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INVENTORIES | 9 Months Ended
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Sep. 30, 2024
Inventory Disclosure [Abstract] |
INVENTORIES | NOTE 5: INVENTORIES Inventories consist of: SCHEDULE OF INVENTORIES
|  | September 30, 2024 |  |  | December 31, 2023 |
Raw materials |  | $ | 1,366 |  |  | $ | 2,351 |
Work-in-process |  |  | 661 |  |  |  | 1,248 |
Finished goods |  |  | 531 |  |  |  | 855 |
Total |  | $ | 2,558 |  |  | $ | 4,454 |
CVD EQUIPMENT CORPORATION AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) NOTE 5: INVENTORIES (continued) Included in our inventories are finished goods and raw materials related to PVT 150 systems that were purchased and built, respectively, in anticipation of future orders. During the three months ended September 30, 2024, the Company recorded a non-cash charge to reduce the net realizable value of such inventory by approximately $1.0 million based on its assessment of the current market for silicon carbide equipment. As of September 30, 2024, the net amount of PVT 150 systems inventory is approximately $0.7 million. If future PVT 150 orders do not materialize and if the Company is not otherwise able to sell this inventory, the Company could incur additional charges to further reduce the carrying value of such inventory to net realizable value. Such charges may be material to the Company’s financial position and future results of operations.

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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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