2.	Inventories

	December 31,
(U.S. Dollars in thousands)	2014		2013
Raw materials	$	3,879	$	6,515
Work-in-process		4,830		6,606
Finished products		24,953		28,291
Field inventory		18,003		21,312
Consignment inventory		2,656		2,388
Deferred cost of sales		5,525		7,566
	$	59,846	$	72,678

Field inventory represents immediately saleable finished products that are in the possession of the Company’s direct sales representatives. Consignment inventory represents immediately saleable finished products located at third party customers, such as distributors and hospitals. Work-in-process, finished products, field inventory and consignment inventory include material, labor and production overhead costs. Deferred cost of sales result from transactions where the Company has shipped product or performed services for which all revenue recognition criteria have not yet been met. Once all revenue recognition criteria have been met, revenue previously recorded as deferred and associated cost of sales are recognized.