Quarterly report pursuant to Section 13 or 15(d)

Inventories

v3.23.2
Inventories
6 Months Ended
Jun. 30, 2023
Inventory Disclosure [Abstract]  
INVENTORIES

3. 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 $0 and $4,612,000 as of June 30, 2023 and December 31, 2022, respectively. Inventory balances consisted of the following (in thousands):

 

    June 30,
2023
    December 31,
2022
 
Finished goods   $ 45,089     $ 47,736  
Work in progress     7,185       6,396  
Raw materials     17,415       11,197  
Other     1,426       1,299  
Total   $ 71,115     $ 66,628