Inventories

12 Months Ended

Dec. 31, 2022

(8) Inventories

Components of inventories at December 31, 2022 and 2021 are summarized as follows:


(in thousands)	2022		2021
Raw materials	$	59,907	$	23,530
Work in process	4,972		5,173
Finished goods and parts	72,953		64,184
Total inventories	$	137,832	$	92,887

The inventory reserve was $15,550 and $16,509 as of December 31, 2022 and 2021, respectively.

In the second quarter of 2022, we notified one of our contract manufacturers of our intent to terminate our manufacturing services arrangement and in-source the assembly and production process. The exit agreement was finalized in July 2022 and resulted in a $1,670 exit fee that we paid in third quarter of 2022, as well as the purchase of $23,913 of inventory and $369 of fixed assets from the assembly manufacturer in the third quarter of 2022. Part of the inventory purchased was prepaid during previous quarters for $8,892, resulting in a net payment of $17,060 in July 2022.

In June 2020, as part of our assessment of prospective sales and evaluation of inventory, we determined the end-of-life for certain product lines. The end-of-life determination for these products reflects management's plans to focus our resources that are better aligned with our new strategic focus, as further discussed in Note 25. As a result, for the year ended December 31, 2020, we recorded a charge of $10,894 to products costs of sales, primarily attributable to inventory, accessories and inventory commitments for these products. We have ceased production for these items. There was no material product line life ended during the years ended December 31, 2022 or 2021.