Inventories



	November 30, 2019		August 31, 2019
	(Dollars in thousands)
Grain and oilseed	$	1,451,865	$	1,024,645
Energy	721,887		717,378
Agronomy	1,051,970		954,037
Processed grain and oilseed	102,483		109,900
Other	40,663		48,328
Total inventories	$	3,368,868	$	2,854,288

As of November 30, 2019, we valued approximately 14% of inventories, primarily crude oil and refined fuels within our Energy segment, using the lower of cost, determined on the LIFO method, or net realizable value (16% as of August 31, 2019). If the FIFO method of accounting had been used, inventories would have been higher than the reported amount by $247.2 million and $215.0 million as of November 30, 2019, and August 31, 2019, respectively. Actual valuation of inventory under the LIFO method can be made only at the end of each year based on inventory levels and costs at that time. Interim LIFO calculations are based on management's estimates of expected year-end inventory levels and are subject to the final year-end LIFO inventory valuation.