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, 2022, an inventory impairment of $0 and $159, respectively, was recorded. There was $186 in inventory impairment charges for the three and nine months ended, September 30, 2021.

Inventory at September 30, 2022 and December 31, 2021 consisted of the following:

Schedule of Inventory