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Inventories
6 Months Ended
Jun. 30, 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 adjustment of $0 and $2,201,000 as of June 30, 2024 and December 31, 2023, respectively. Inventory balances consisted of the following (in thousands):

 

   June 30,
2024
   December  31,
2023
 
Finished goods  $29,201   $35,765 
Work in progress   4,480    5,063 
Raw materials   10,079    10,313 
Other   5,674    1,470 
Total  $49,434   $52,611