Inventories

3 Months Ended

Mar. 31, 2020

Inventories

Inventories

4.   Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is determined using standard cost (which approximates average cost) and weighted average methods. Costs include an application of related direct labor and overhead cost. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Reserves are made for excess and obsolete items based on a range of factors, including age, usage and technological or market changes that may impact demand for those products. Inventories consist of the following:

	March 31,		December 31,
	2020		2019
Raw materials	$	1,702	$	1,538
Work-in-progress		3,857		4,619
Finished goods		94,742		107,214
	$	100,301	$	113,371