Note 5 – Inventory

Inventory is stated at lower of cost or net realizable value using the weighted average cost method and is evaluated at least annually for impairment. Write-downs for potentially obsolete or excess inventory are made based on management's analysis of inventory levels, historical obsolescence and future sales forecasts. For the three and six months ended June 30, 2020, no inventory write-down charge was recorded; and, for the three and six months ended June 30, 2019, an inventory write-down charge of $19 was recorded.

Inventory at June 30, 2020 and December 31, 2019 consisted of the following: