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Inventories | 6 Months Ended
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Jun. 30, 2022
Inventory Disclosure [Abstract] |
Inventories | INVENTORIES Inventories are stated at the lower of standard cost (which approximates actual cost determined using the first-in, first-out cost method) or net realizable value, and consist of the following (in thousands):
| June 30, 2022 |  | December 31, 2021
Raw materials | $ | 3,758 |  |  | $ | 3,882 |
Finished goods | 6,202 |  |  | 7,034 |
Reserves for excess, obsolete, and slow-moving inventories | (2,792) |  |  | (3,050) |
Inventories, net | $ | 7,168 |  |  | $ | 7,866 |
The following is a roll-forward of the reserves for excess, obsolete, and slow-moving inventories (in thousands):
| Three months ended June 30, |  | Six months ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Beginning balance | $ | (3,179) |  |  | $ | (2,983) |  |  | $ | (3,050) |  |  | $ | (2,894) |
Accrual | (56) |  |  | 3 |  |  | (201) |  |  | (98) |
Reduction due to sold inventory | 241 |  |  | 24 |  |  | 257 |  |  | 36 |
Write-off for disposed inventory | 202 |  |  | — |  |  | 202 |  |  | — |
Reserves for excess, obsolete, and slow-moving inventories | $ | (2,792) |  |  | $ | (2,956) |  |  | $ | (2,792) |  |  | $ | (2,956) |
As part of our expense reduction initiatives, we have significantly decreased our warehouse space beginning in the third quarter of 2022. In connection with the space reduction, in the second quarter of 2022, we began disposing of a substantial portion of our excess and obsolete commercial finished goods inventory that was more than 90% reserved. As of June 30, 2022, approximately $204 thousand of such inventory had been disposed of. Additional inventory management efforts are expected to continue in the third quarter of 2022 in order to free up additional space in the warehouse.

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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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