Quarterly report pursuant to Section 13 or 15(d)

Inventories

v3.22.2.2
Inventories
9 Months Ended
Sep. 30, 2022
Inventory Disclosure [Abstract]  
INVENTORIES

4. INVENTORIES.

 

Inventories consisted primarily of bulk ethanol, specialty alcohols, corn, essential ingredients 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 valuation adjustment of $7,963,000 and $0 as of September 30, 2022 and December 31, 2021, respectively. Inventory balances consisted of the following (in thousands):

 

    September 30,
2022
    December 31,
2021
 
Finished goods   $ 40,630     $ 35,509  
Work in progress     8,084       6,909  
Raw materials     11,321       10,837  
Other     1,053       1,118  
Total   $ 61,088     $ 54,373