Quarterly report pursuant to sections 13 or 15(d)

3. INVENTORIES

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3. INVENTORIES
6 Months Ended
Jun. 30, 2012
Notes to Financial Statements  
3. INVENTORIES

Inventories consisted primarily of bulk ethanol and unleaded fuel, and are valued at the lower-of-cost-or-market, with cost determined on a first-in, first-out basis. Inventory balances consisted of the following (in thousands):

 

    June 30, 2012     December 31, 2011  
Finished goods   $ 10,204     $ 9,429  
Work in progress     3,840       4,284  
Raw materials     1,366       1,334  
Other     893       1,084  
       Total   $ 16,303     $ 16,131