Inventories

12 Months Ended

Dec. 31, 2021

Inventories

Inventories

4. Inventories

Inventories, net of reserves, consisted of the following:

	As of December 31,
	2021		2020
Current:
Raw materials	$	4,085	$	1,182
Finished goods		5,948		9,281
Total	$	10,033	$	10,463
Long-term:
Raw materials	$	1,980	$	1,977
Finished goods		1,587		2,613
Total	$	3,567	$	4,590

Long-term inventory represents inventory held in excess of our current (next 12 months) requirements based on our recent sales and forecasted level of sales. We have developed programs to reduce the inventory to normal operating levels in the near future. We expect to sell the above inventory, net of reserves, at or above the stated cost and believe that no loss will be incurred on its sale.

The losses incurred on valuation of inventory at the lower of cost or market value and write-off of obsolete inventory amounted to $850 and $1,517 during the years ended December 31, 2021 and 2020, respectively.