Note 5 – Inventories

Inventories consist of the following:


	December 31,		December 31,
	2020		2019
Raw materials
Harvested cannabis	$	5,036	$	5,780
Harvested trim		8,450		2,890
Total raw materials		13,486		8,670
Work-in-process
Processing		67,955		15,998
Finished goods
Consumables		10,403		8,668
Flower		14,231		3,661
Extracts		31,269		14,663
Total finished goods		55,903		26,992
Fair value adjustment to inventory related to biological assets		63,828		11,550
Transferred to assets held for sale		(3,181)		—
	$	197,991	$	63,210

During the years ended December 31, 2020 and 2019, the Company recognized cost of goods sold of $460,734 and $177,143, respectively, of which $311,148 and $102,386, respectively, was included in costs before the impact of biological assets adjustments for the amount of $149,586 and $74,757, respectively, of non-cash expense relating to the realized change in fair value of inventory sold.