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Inventory
12 Months Ended
Dec. 31, 2022
Inventory Disclosure [Abstract]  
Inventory

Note 3. Inventory

Inventory - current, net of allowance, consisted of the following as of the dates indicated:

 

 

December 31,

 

 

 

2022

 

 

2021

 

Raw materials

 

$

426,516

 

 

$

1,253,111

 

Work in process

 

 

113,063

 

 

 

312,803

 

Finished goods

 

 

394,016

 

 

 

447,145

 

Total gross inventory - current

 

 

933,595

 

 

 

2,013,059

 

Less general inventory allowance

 

 

(24,267

)

 

 

(25,306

)

 

 

$

909,328

 

 

$

1,987,753

 

 

Inventory - non-current, net of excess inventory allowance, included in other non-current assets on the consolidated balance sheets, consisted of the following as of the dates indicated:

 

 

December 31,

 

 

 

2022

 

 

2021

 

Raw materials - non-current, net

 

$

244,915

 

 

$

711,296

 

Work in process - non-current, net

 

 

81,958

 

 

 

 

Finished goods - non-current

 

 

73,930

 

 

 

 

 

 

$

400,803

 

 

$

711,296

 

For the year ended December 31, 2022, the Company recorded adjustments to its specific inventory reserve of $49,249, to reflect the projected obsolescence of a specific inventory item, and to the general inventory allowance for estimated shrinkage, obsolescence and cycle count adjustments of $44,762. In addition, the Company recorded a provision for excess inventory of approximately $1.1 million, primarily related to the write-down of estimated excess quantities of raw materials, whose inventory levels are higher than our updated forecasts of future demand for those products.

For the year ended December 31, 2021, the Company recorded adjustments to the general inventory allowance of approximately $0.2 million. Adjustments in these periods to the general, specific and excess inventory allowances have been included in cost of product and product-related services revenue in the accompanying consolidated statements of operations.