INVENTORIES

12 Months Ended

Dec. 31, 2021

NOTE 5 – INVENTORIES

At December 31, 2021 and 2020, inventory consisted of the following:

	December 31,
	2021		2020
Raw materials	$	90,552	$	32,391
Work in process		35,840		23,871
Finished goods		91,724		32,377
Total inventory	$	218,116	$	88,639

At December 31, 2021 and 2020, the Company held an inventory reserve of $1,215 and $1,140 respectively. At December 31, 2021 and 2020, respectively, finished goods inventory included system shipments of first-tools to existing or prospective customers, for which ownership does not transfer until customer acceptance or customer purchase, totaling $91,724 and $32,377 respectively. At December 31, 2021 and 2020, the value of finished goods inventory for which customers are contractually obligated to take ownership upon acceptance totaled $71,889 and $20,834, respectively.