3. INVENTORIES

3 Months Ended

Mar. 31, 2015

Inventory Disclosure [Abstract]

3. INVENTORIES

Inventories consisted primarily of bulk ethanol and unleaded fuel, and are valued at the lower-of-cost-or-market, with cost determined on a first-in, first-out basis. Inventory balances consisted of the following (in thousands):

	March 31, 2015		December 31, 2014
Finished goods	$	11,668	$	11,118
Raw materials		1,914		2,695
Work in progress		2,848		3,274
Other		1,410		1,463
Total	$	17,840	$	18,550