| INVENTORIES Inventories are stated at the lower of cost (first-in, first-out or average cost) or net realizable value. The following table details the components of inventory: | | | | | | | | | | | | | At December 31, 2023 | | At September 30, 2023 | | Raw materials and supplies | $ | 102,757 | | | $ | 127,342 | | | Work in process | 18,474 | | | 12,070 | | | Finished goods | 357,378 | | | 367,718 | | | Total | $ | 478,609 | | | $ | 507,130 | |
In connection with the Company's restructuring activities described in Note 16, Restructuring Charges, during the quarter ended December 31, 2023, CPP recorded an inventory impairment charge of $8,482 to adjust to net realizable value.
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