Note C - Inventories

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Inventory Disclosure [Text Block]

NOTE C—INVENTORIES

Inventories are stated at the lower of cost or net realizable value. The Company periodically evaluates the quantities on hand relative to current and historical selling prices, and historical and projected sales volume. Based on these evaluations, provisions are made in each period to write inventory down to its net realizable value. Inventories are composed of the following:

	September 30, 2021		December 31, 2020
	(Unaudited)		(Audited)
Work‑in‑process	$	5,396	$	5,972
Finished goods		1,613		3,089
	$	7,009	$	9,061

Inventory write-off amounted to $17 for the nine months ended September 30, 2021 due to aging of certain inventory items that are not expected to be sold.

For the nine months ended September 30, 2020, the Company recorded $9 of income due to the utilization of inventory that was previously written off.