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Inventories

9 Months Ended

May 31, 2013



	May 31, 2013		August 31, 2012		May 31, 2012
Grain and oilseed	$	1,344,265	$	1,625,865	$	1,249,067
Energy	682,528		701,348		691,424
Crop nutrients	237,487		401,655		202,194
Feed and farm supplies	564,424		384,178		405,781
Processed grain and oilseed	97,212		76,892		75,299
Other	11,726		14,034		10,969
	$	2,937,642	$	3,203,972	$	2,634,734

As of May 31, 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 14% as of August 31, 2012 and May 31, 2012, respectively). If the FIFO method of accounting had been used, inventories would have been higher than the reported amount by $535.8 million, $566.6 million and $530.9 million at May 31, 2013, August 31, 2012 and May 31, 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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