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Inventories

12 Months Ended

Dec. 31, 2018

5. Inventories

Inventories are valued at the lower of cost or net realizable value with cost determined by the first‑in, first‑out method. Inventories consisted of the following (in thousands):


	December 31, 2018		December 31, 2017
Finished goods	$	315,484	$	31,245
Raw materials and work in progress		27,468		488
Total inventories	$	342,952	$	31,733