INVENTORIES

3 Months Ended

Mar. 31, 2023

INVENTORIES

INVENTORIES

NOTE 3 – INVENTORIES

Inventories are stated at the lower of cost or net realizable value and include spare parts and finished goods. Inventories are primarily determined using specific identification and the first-in, first-out (“FIFO”) cost methods. Cost includes direct cost from the Current Manufacturer (“CM”) or Original Equipment Manufacturer (“OEM”), plus material overhead related to the purchase, inbound freight and import duty costs.

Inventories consisted of the following at March 31, 2023 and December 31, 2022 (in thousands):

	2023		2022
Finished goods	$	44,447	$	56,583
Spare parts		978		775
Reserve for inventory obsolescence		(1,587)		(531)
Advanced shipping costs		837		1,384
Inventories, net	$	44,675	$	58,211