INVENTORIES.

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

INVENTORIES.

3. INVENTORIES.

Inventories consisted primarily of bulk ethanol, specialty alcohols, corn, co-products, low-carbon and Renewable Identification Number ("RIN") credits 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 $0 and $2,328,000 valuation adjustment as of September 30, 2019 and December 31, 2018, respectively. Inventory balances consisted of the following (in thousands):

	September 30, 2019		December 31, 2018
Finished goods	$	41,034	$	35,778
Work in progress		8,207		6,855
Raw materials		7,236		7,233
Low-carbon and RIN credits		4,150		6,130
Other		1,882		1,824
Total	$	62,509	$	57,820