INVENTORIES

12 Months Ended

Feb. 28, 2022

INVENTORIES

INVENTORIES

4. INVENTORIES

As of February 28, 2022, inventories consist of the following:

	Gross		Reserve			Net
Raw Materials	$	1,504,000	$	(813,000	)	$	691,000
Work-In-Process		5,410,000		(3,906,000	)		1,504,000
Finished Goods		723,000		(658,000	)		65,000
Totals	$	7,637,000	$	(5,377,000	)	$	2,260,000

As of February 28, 2021, inventories consist of the following:

	Gross		Reserve			Net
Raw Materials	$	2,027,000	$	(1,185,000	)	$	842,000
Work-In-Process		5,382,000		(3,552,000	)		1,830,000
Finished Goods		1,047,000		(998,000	)		49,000
Totals	$	8,456,000	$	(5,735,000	)	$	2,721,000

Wafer related inventory, which includes raw wafers, work-in-process wafers, and wafer bank (completed wafers that are available to be consumed in the Company’s products), net of reserves, totaled $965,000 as of February 28, 2022 and $1,154,000 as of February 28, 2021. As of February 28, 2022, 100% of the wafer bank inventory consisted of wafers manufactured between calendar year 2018 and 2022. We do not expect all of our wafer inventory to be consumed within twelve months; however, since it is not possible to know which wafers will or will not be used, we classify all our inventory as current.