INVENTORY

Inventory, net consists of:



	December 31,
(Dollars in thousands)	2017		2016
Raw materials	$	1,368	$	1,117
Work in process	1,972		1,434
Finished goods	4,765		6,833
Total	$	8,105	$	9,384

Cost is determined on a FIFO basis and includes material costs, labor and applicable overhead. The Company reviews its inventory for excess or obsolescence and writes down inventory that has no alternative uses to its net realizable value. The inventory reserves for excess and obsolete inventory at December 31, 2017 and 2016 were $0.3 million and $1.0 million, respectively.