The Company capitalizes its purchases of saleable inventory of VASCEPA from suppliers that have been qualified by regulatory authorities. Inventories as of June 30, 2023 and December 31, 2022 consist of the following:


In thousands	June 30, 2023		December 31, 2022
Raw materials	$	128,252	$	126,391
Work in process		394		52,297
Finished goods		220,693		213,664
Total inventory (1)	$	349,339	$	392,352

(1) Total inventory consists of both current inventory and long-term inventory. During the three and six months ended June 30, 2023, approximately $1.1 million and $3.4 million, respectively, of inventory was expensed through cost of goods sold for both product dating and non-product dating unsellable inventory. During each of the three and six months ended June 30, 2022, approximately $9.6 million of finished goods were expensed through cost of goods sold related to unsellable inventory not related to product dating.

As of June 30, 2023 and December 31, 2022, the Company had $122.3 million and $163.6 million of long-term inventory, respectively, as consumption is expected beyond the Company's operating cycle.