INVENTORIES

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories consist of the following:

	December 31,
	2021		2020
Harvested hemp and seeds	$	38,249	$	41,090
Raw materials	15,189		14,644
Finished goods	13,974		24,615
	67,412		80,349
Less: inventory provision	(15,335)		(17,192)
Total	$	52,077	$	63,157

Inventory Provision

For the year ended December 31, 2021, inventory provisions of $10,272 were recognized, of which $9,729 were expensed through the cost of goods sold and $543 were recognized as settlement reductions of cultivation liabilities due to third-party farming operators related to harvested hemp outside of quality specifications. For the year ended December 31, 2021, write-offs of inventory previously reserved for of $12,129 were recognized. For the year ended December 31, 2020, inventory provisions of $8,025 were expensed through the cost of good and $2,073 were recognized as settlement reductions of cultivation liabilities due to third-party farming operators related to harvested hemp outside of quality specifications. For the year ended December 31, 2020, write-offs of inventory previously reserved for of $8,779 were recognized.