ACCOUNTS RECEIVABLE, NET AND INVENTORIES

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

ACCOUNTS RECEIVABLE, NET AND INVENTORIES

ACCOUNTS RECEIVABLE, NET AND INVENTORIES

Accounts receivable, net comprised the following:

	December 31,
	2022		2021
Trade accounts receivable	$	18,204	$	35,511
Allowance for doubtful accounts	(1,556)		(1,156)
Other receivables	579		7,129
Total accounts receivable, net	$	17,227	$	41,484

Inventories comprised the following:

	December 31,
	2022		2021
Finished goods	$	83,134	$	145,298
Work-in-process	5,403		5,967
Raw materials	38,558		41,399
Allowance for inventory obsolescence	(15,697)		(3,530)
Total inventories	$	111,398	$	189,134

The allowance for inventory obsolescence increased during the year ended December 31, 2022, primarily a result of a reserve for certain lighting products. Inventories are stated at the lower of cost or net realizable value, and the Company maintains an allowance for excess and obsolete inventory that is based upon assumptions about future demand and market conditions. The allowance for excess and obsolete inventory is subject to change from period to period based on a number of factors including sales of products, changes in estimates, and disposals.