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Inventory
12 Months Ended
Dec. 31, 2021
Inventory Disclosure [Abstract]  
Inventory

Note 3. Inventory

Inventory, net of allowance, consisted of the following as of the date indicated:

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

Raw materials

 

$

1,964,407

 

 

$

1,079,528

 

Work in process

 

 

312,803

 

 

 

147,455

 

Finished goods

 

 

447,145

 

 

 

291,195

 

Total gross inventory

 

 

2,724,355

 

 

 

1,518,178

 

Less inventory allowance

 

 

(25,306

)

 

 

(26,052

)

 

 

$

2,699,049

 

 

$

1,492,126

 

 

Inventory of $2.0 million and $0.7 million was included in inventory – current and other non-current assets, respectively, in the consolidated balance sheets as of December 31, 2021. There was no inventory classified as long-term as of December 31, 2020.

 

For the years ended December 31, 2021 and 2020, the Company recorded adjustments to the provision for excess inventory of $174,589 and $53,298, respectively. Adjustments in these periods to the allowance for estimated shrinkage, obsolescence and excess inventory and to the inventory reserve have been included in cost of product and product-related services revenue in the consolidated statements of operations.