INVENTORY

3 Months Ended

Mar. 31, 2023

The Company’s inventory balance consists of the following:


	March 31, 2023		December 31, 2022
Retail inventory	$	3,723	$	3,255
Wholesale inventory	40,832		35,885
Cultivation inventory	6,469		7,133
Supplies & other	2,587		3,173
Total	$	53,611	$	49,446

Inventory is valued at the lower of cost and net realizable value (“NRV”), defined as estimated selling price in the ordinary course of business, less estimated costs of disposal. During the three months ended March 31, 2023, the Company analyzed its inventory balances, and recorded wholesale inventory adjustments as a result of (i) having excess or obsolete inventory and (ii) reducing the carrying value to ensure inventory balances are properly recorded at the lower of cost and NRV. The Company recognized $2,237 of wholesale inventory adjustments within Cost of goods sold, wholesale on the Statements of Operations during the three months ended March 31, 2023.