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 nine months ended September 30, 2020, no inventory write-down charge was recorded; and, for the three and nine months ended September 30, 2019, an inventory write-down charge of $57 and $76, respectively, was recorded.

Inventory consists of the following: