LIFECORE BIOMEDICAL INC DE
For the period ended Nov 24, 2024. Filed Jan 2, 2025.
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Nov 24, 2024 · Filed Jan 2, 2025
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Inventories, net
- Inventories, net
Inventories primarily consist of in-process and finished goods related to sterile injectable pharmaceutical products in syringes, vials and cartridges. This includes premium, pharmaceutical grade HA in bulk form as well as formulated and filled syringes, vials and cartridges for injectable products used in treating a broad spectrum of medical conditions and procedures.
Inventories are stated at the lower of cost (using the first-in, first-out method) or net realizable value. Inventories consisted of the following:
| November 24, 2024 | May 26, 2024 | |
|---|---|---|
| Finished goods | $17,890 | $14,924 |
| Raw materials | 12,839 | 13,140 |
| Work in process | 8,485 | 11,915 |
| Inventories, net | $39,214 | $39,979 |
Adjustments to inventory are determined at the raw materials, work-in-process, and finished good levels to reflect obsolescence or impaired balances. Factors influencing inventory obsolescence include changes in demand, product life cycle, product pricing, physical deterioration, and quality concerns.
The Company’s inventory serves as part of the collateral for certain of the Company’s debt arrangements. Refer to Note 10 – Long-term Debt for additional discussion on the Company’s debt arrangements and related collateral.
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