INVENTORIES

6 Months Ended

Jun. 30, 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 June 30, 2023 and December 31, 2022 (in thousands):

	2023		2022
Finished goods	$	37,961	$	56,583
Spare parts		1,211		775
Reserve for inventory obsolescence		(1,776)		(531)
Advanced shipping costs		413		1,384
Inventories, net	$	37,809	$	58,211