INVENTORY

6 Months Ended

Jun. 30, 2019

Notes to Financial Statements

Note 3 - INVENTORY

Inventory consists of raw materials, packaging components, work-in-process and finished goods. The Company’s inventory is stated at the lower of cost (FIFO cost basis) or market. The carrying value of inventory consisted of the following at June 30, 2019 and December 31, 2018:

	June 30, 2019			December 31, 2018
Raw materials	$	36,852		$	25,297
Packaging components		7,687			7,687
Work-in-process		8,162			8,162
		52,701			41,146
Reserve for obsolescence		(3,382	)		(3,370	)
Total inventory	$	49,319		$	37,776