Inventories

3 Months Ended

Mar. 31, 2024

Inventories [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 allowance of $597,000 and $2,201,000 as of March 31, 2024 and December 31, 2023, respectively. Inventory balances consisted of the following (in thousands):

	March 31, 2024		December 31, 2023
Finished goods	$	28,648	$	35,765
Work in progress		4,082		5,063
Raw materials		7,934		10,313
Other		1,946		1,470
Total	$	42,610	$	52,611