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Inventories

6 Months Ended

Jun. 30, 2014

3. Inventories

The following table sets forth the components of the Company’s inventory balances (in thousands).

	June 30,		December 31,
	2014		2013
Raw materials
Corn	$	1,182	$	1,456
Enzymes and other inputs		306		514
Finished goods		1,071		192
Work in process		266		224
Spare parts		1,418		1,195

Total inventories	$	4,243	$	3,581

Included in cost of goods sold is depreciation of $0.5 million and $0.6 million during the three months ended June 30, 2014 and 2013, respectively, and $1.1 million and $1.1 million during the six months ended June 30, 2014 and 2013, respectively. Depreciation expense included in cost of goods sold from Inception to June 30, 2014 was $7.9 million.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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