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Inventories

6 Months Ended

Feb. 28, 2013



	February 28, 2013		August 31, 2012		February 29, 2012
Grain and oilseed	$	1,607,972	$	1,625,865	$	1,339,347
Energy	705,160		701,348		838,802
Crop nutrients	471,487		401,655		423,571
Feed and farm supplies	725,974		384,178		625,979
Processed grain and oilseed	94,667		76,892		67,629
Other	21,413		14,034		10,899
	$	3,626,673	$	3,203,972	$	3,306,227

As of February 28, 2013, we valued approximately 14% of inventories, primarily related to Energy, using the lower of cost, determined on the LIFO method, or market (11% and 16% as of August 31, 2012 and February 29, 2012, respectively). If the FIFO method of accounting had been used, inventories would have been higher than the reported amount by $535.1 million, $566.6 million and $636.8 million at February 28, 2013, August 31, 2012 and February 29, 2012, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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