Quarterly report pursuant to Section 13 or 15(d)

INVENTORIES.

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INVENTORIES.
3 Months Ended
Mar. 31, 2019
Inventory Disclosure [Abstract]  
INVENTORIES.
3. INVENTORIES.

 

Inventories consisted primarily of bulk ethanol, specialty alcohols, corn, co-products, low-carbon and Renewable Identification Number (“RIN”) 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. Inventory is net of a $223,000 and $2,328,000 valuation adjustment as of March 31, 2019 and December 31, 2018, respectively. Inventory balances consisted of the following (in thousands):

 

    March 31, 2019     December 31, 2018   
Finished goods   $ 42,355     $ 35,778  
Work in progress     7,180       6,855  
Raw materials     6,352       7,233  
Low-carbon and RIN credits     4,973       6,130  
Other     1,871       1,824  
Total   $ 62,731     $ 57,820