Inventory

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Inventory

Note 4. Inventory

Inventories, net consist of the following (in thousands):

	December 31, 2021		December 31, 2020
Raw materials	$	1,851	$	966
Goods in process		842		1,921
Finished goods		4,234		4,410
Inventories	$	6,927	$	7,297

The write-downs to inventory are included in cost of product revenues and are based upon estimates about future demand from the Company’s customers and distributors and market conditions. Therefore, if there are significant changes in demand and market conditions, substantial future write-downs of inventory may be required, which would materially increase our expenses in the period the write down is taken and materially affect our operating results. The Company recorded write-downs of wheat inventories, hemp seed inventories, and body care products of $3.6 million for the year ended December 31, 2021. The Company recorded $4.3 million of inventory write-downs for the year ended December 31, 2020.