Inventories

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories consist of the following:

	September 30,		December 31,
	2022		2021
Components and raw materials	$	384,471	$	270,146
Work-in-process	49,630		32,506
Finished goods	121,436		158,095
Total	$	555,537	$	460,747

The Company recorded inventory provisions totaling $12,883 and $7,882 for the three months ended September 30, 2022 and 2021, respectively, and $38,363 and $23,529 for the nine months ended September 30, 2022 and 2021. These provisions relate to the recoverability of the value of inventories due to technological changes and excess quantities. These provisions are reported as a reduction to components and raw materials, work-in-process and finished goods.