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