Inventories



	May 31, 2015		August 31, 2014
	(Dollars in thousands)
Grain and oilseed	$	1,288,769	$	961,327
Energy	864,370		875,719
Crop nutrients	298,933		374,023
Feed and farm supplies	582,900		448,454
Processed grain and oilseed	73,381		84,498
Other	10,485		16,232
Total inventories	$	3,118,838	$	2,760,253

As of May 31, 2015, we valued approximately 18% of inventories, primarily related to Energy, using the lower of cost, determined on the LIFO method, or market (16% as of August 31, 2014). If the FIFO method of accounting had been used, inventories would have been higher than the reported amount by $194.9 million and $538.7 million at May 31, 2015 and August 31, 2014, respectively. An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Interim LIFO calculations are based on management's estimates of expected year-end inventory levels and costs, and are subject to the final year-end LIFO inventory valuation.