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Inventories
12 Months Ended
Dec. 31, 2023
Inventories  
Inventories

4. Inventories

 

Inventories, net of reserves, consisted of the following:

 

 

 

As of December 31,

 

 

 

2023

 

 

2022

 

Current:

 

 

 

 

 

 

 

 

Raw materials

 

$

2,086

 

 

$

4,499

 

Finished goods

 

 

8,539

 

 

 

4,462

 

Total

 

$

10,625

 

 

$

8,961

 

Long-term:

 

 

 

 

 

 

 

 

Raw materials

 

$

1,789

 

 

$

1,068

 

Finished goods

 

 

1,354

 

 

 

1,639

 

Total

 

$

3,143

 

 

$

2,707

 

 

Long-term inventory represents inventory held in excess of our current (next 12 months) requirements based on our recent sales and forecasted level of sales. We have developed programs to reduce the inventory to normal operating levels in the near future. We expect to sell the above inventory, net of reserves, at or above the stated cost and believe that no loss will be incurred on its sale.

 

The losses incurred on valuation of inventory at the lower of cost or market value and write-off of obsolete inventory amounted to $281 and $120 during the years ended December 31, 2023 and 2022, respectively.