6. Inventory

Components of inventory, net of reserves as of September 30, 2019 and December 31, 2018 are as follows:


	September 30,		December 31,
	2019		2018
Raw Materials	$	2,390,179	$	3,621,548
Work in Process		209,940		256,129
Finished Goods		1,511,333		1,798,101
Total	$	4,111,452	$	5,675,778

As of September 30, 2019 and December 31, 2018, we classified $0.5 million and $1.6 million, respectively, of inventory as non-current, all of which was related to Triferic or the active pharmaceutical ingredient (API) for Triferic. As of September 30, 2019 and December 31, 2018, we had total Triferic inventory aggregating $3.5 million and $8.0 million respectively, against which we had reserved $2.8 million and $5.8 million respectively.

The $0.7 million net value of Triferic inventory consisted of $0.1 million of Dialysate Triferic finished goods with expiration dates ranging from March 2020 to May 2021, and $0.6 million of Triferic API with estimated useful lives extending through 2023. The Company increased its inventory reserve for Triferic by $1.1 million as of September 30, 2019 due to, among other factors, the impact of the Centers for Medicare & Medicaid Services (“CMS”) Final Rule, which is discussed in Note 17 below, and its current volume forecasts for Triferic across the globe.