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Inventories | 9 Months Ended
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Sep. 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):
| September 30, 2022 |  | December 31, 2021
Raw materials | $ | 3,584 |  |  | $ | 3,882 |
Finished goods | 5,231 |  |  | 7,034 |
Reserves for excess, obsolete, and slow-moving inventories | (2,659) |  |  | (3,050) |
Inventories, net | $ | 6,156 |  |  | $ | 7,866 |
The following is a roll-forward of the reserves for excess, obsolete, and slow-moving inventories (in thousands):
| Three months ended September 30, |  | Nine months ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Beginning balance | $ | (2,792) |  |  | $ | (2,956) |  |  | $ | (3,050) |  |  | $ | (2,894) |
Accrual | (241) |  |  | 34 |  |  | (442) |  |  | (64) |
Reduction due to sold inventory | 21 |  |  | 36 |  |  | 278 |  |  | 72 |
Write-off for disposed inventory | 353 |  |  | — |  |  | 555 |  |  | — |
Reserves for excess, obsolete, and slow-moving inventories | $ | (2,659) |  |  | $ | (2,886) |  |  | $ | (2,659) |  |  | $ | (2,886) |
As part of our expense reduction initiatives, we 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 highly reserved, which effort continued into the third quarter of 2022. As of September 30, 2022, approximately $563 thousand, on a gross value basis, of such inventory had been disposed of. Additional inventory management efforts are expected to continue in the fourth quarter of 2022.

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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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