6) Inventories

The Partnership’s product inventories are stated at the lower of cost or market computed on the weighted average cost method. All other inventories, representing parts and equipment are stated at the lower of cost or market using the FIFO method. The components of inventory were as follows (in thousands):


	September 30,
	2016		2015
Product	$	25,419	$	35,599
Parts and equipment		20,475		20,072

Total inventory	$	45,894	$	55,671

Product inventories were comprised of 18.4 million gallons and 21.7 million gallons on September 30, 2016 and September 30, 2015, respectively. The Partnership has market price based product supply contracts for approximately 283.5 million gallons of home heating oil and propane, and 37.3 million gallons of diesel and gasoline, which it expects to fully utilize to meet its requirements over the next twelve months.

During fiscal 2016, Global Companies LLC and NIC Holding Corp. provided approximately 13% and 8%, respectively, of our petroleum product purchases. No other single supplier provided more than 8% of our product supply during fiscal 2016. During fiscal 2015, Global Companies LLC and NIC Holding Corp. provided approximately 12% and 10%, respectively, of our petroleum product purchases.