Note 3 - Inventories

9 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Inventory Disclosure [Text Block]

3. INVENTORIES

Inventories are stated at the lower of cost or net realizable value. Cost is determined by the

first

-in,

first

-out method. Inventories consist of the following at:

	Dec ember 3 1 , 2019		March 31, 2019
	(in thousands)
Raw materials	$	422	$	495
Work in process		2,427		4,032
Finished goods		8,199		6,587
Supplies		158		160
Inventories, net	$	11,206	$	11,274

The Company recognizes abnormal production costs, including fixed cost variances from normal production capacity, as an expense in the period incurred. The Company expensed abnormal production costs of

$0

and

$250,000

to cost of sales for the

three

and

nine

months ended

December 31, 2018,

respectively. There were

no

abnormal production costs for the

three

and

nine

months ended

December 31, 2019.

Non-inventoriable fixed costs of

$158,000

and

$35,000

were expensed to cost of sales for the

three

months ended

December 31, 2019

and

2018,

respectively. Non-inventoriable fixed costs of

$258,000

and

$176,000

were expensed to cost of sales for the

nine

months ended

December 31, 2019

and

2018,

respectively.