Inventories as of December 31, 2021 and 2020 consist of the following (in thousands):


	December 31,
	2021			2020
Finished goods	$	9,594		$	6,425
Semi-finished goods and work-in-process		25,968			30,968
Raw materials		9,443			6,526
Materials in-transit		95			1,021
Less: inventory reserve		(5,730	)		(5,901	)

Inventories, net	$	39,370		$	39,039

Changes in inventory reserve for the years ended December 31, 2021, 2020 and 2019 are as follows (in thousands):


	Year Ended December 31,
	2021			2020			2019

Beginning balance	$	(5,901	)	$	(5,947	)	$	(4,845	)
Change in reserve
Inventory reserve charged to costs of sales		(7,626	)		(7,268	)		(12,941	)
Sale of previously reserved inventory		5,349			4,349			2,938

		(2,277	)		(2,919	)		(10,003	)
Write off		1,875			2,679			8,451
Translation adjustments		573			(408	)		450
Reclassified to assets held for sale		—			694			—

Ending balance	$	(5,730	)	$	(5,901	)	$	(5,947	)

Inventory reserve represents the Company’s best estimate in value lost due to excessive inventory level, physical deterioration, obsolescence, changes in price levels, or other causes based on individual facts and circumstances. Inventory reserve relates to inventory items including finished goods, semi-finished goods,

work-in-process

and raw materials. Write off of this reserve is recognized only when the related inventory has been disposed or scrapped.