Quarterly report pursuant to Section 13 or 15(d)

3. Inventories

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3. Inventories
6 Months Ended
Jun. 30, 2016
Inventory Disclosure [Abstract]  
Inventories

Inventories consisted primarily of bulk ethanol, corn, co-products, Low-Carbon Fuel Standard (“LCFS”) credits and unleaded fuel, and are valued at the lower-of-cost-or-net realizable value, with cost determined on a first-in, first-out basis. Included in inventory is a $1.5 million valuation adjustment as of June 30, 2016. Inventory balances consisted of the following (in thousands):

 

    June 30, 2016     December 31, 2015  
Finished goods   $ 35,543     $ 31,153  
LCFS credits     12,830       6,957  
Raw materials     8,678       9,891  
Work in progress     7,235       11,121  
Other     1,642       1,698  
Total   $ 65,928     $ 60,820