LIFECORE BIOMEDICAL, INC. \DE\
For the period ended Feb 23, 2025. Filed Apr 3, 2025.
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Feb 23, 2025 · Filed Apr 3, 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.
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Inventories are stated at the lower of cost (using the first-in, first-out method) or net realizable value. Inventory costs include the purchase price of raw materials, and additionally for work in process and finished goods, direct labor costs and allocated portions of indirect labor, property, plant and equipment costs needed in the manufacturing process.
Inventories consisted of the following:
| February 23,2025 | May 26,2024 | |
|---|---|---|
| Finished goods | $13,483 | $14,924 |
| Raw materials | 12,075 | 13,140 |
| Work in process | 9,038 | 11,915 |
| Inventories, net | $34,596 | $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.
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