Desktop Metal, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of Inventory

Inventory is stated at the lower of cost or net realizable value, determined on a first‑in, first‑out basis, and consists of the following (in thousands):



	September 30, 2020		December 31, 2019
Work in process	$	3,062	$	1,081
Finished goods		7,301		7,324
	$	10,363	$	8,405

Inventory is stated at the lower of cost or net realizable value, determined on a first‑in, first‑out basis, and consists of the following (in thousands):


	Years Ended December 31,
	2019		2018
Work in process	$	1,081	$	2,741
Finished goods		7,324		1,241
	$	8,405	$	3,982

Schedule of Accrued warranty

Accrued warranty at each balance sheet date consisted of the following (in thousands):


	September 30, 2020		December 31, 2019
Warranty reserve, at the beginning of the year	$	1,491	$	116
Additions to warranty reserve		375		2,352
Claims fulfilled		(132)		(977)
Warranty reserve, at the end of the period	$	1,734	$	1,491

Accrued warranty consisted of the following (in thousands):


	Years Ended December 31,
	2019		2018
Warranty reserve, at the beginning of the year	$	116	$	—
Additions to warranty reserve		2,352		116
Claims fulfilled		(977)		—
Warranty reserve, at the end of the year	$	1,491	$	116