(F) INVENTORIES

Inventories are stated at the lower of average cost (including applicable material, labor, depreciation, and plant overhead) or market, and consist of the following:

	As of
	December 31, 2016		March 31, 2016
	(dollars in thousands)
Raw Materials and Material-in-Progress	$	104,173	$	119,060
Finished Cement		18,963		21,834
Gypsum Wallboard		6,944		5,839
Frac Sand		3,847		5,501
Aggregates		7,510		10,660
Paperboard		4,818		7,575
Repair Parts and Supplies		70,986		68,155
Fuel and Coal		5,542		4,971
	$	222,783	$	243,595

During the nine months ended December 31, 2016, we wrote down approximately $7.7 million and $0.8 million of raw materials and materials-in-process and frac sand, respectively. During the nine months ended December 31, 2015, we wrote down approximately $9.4 million of raw materials and materials-in-process. These inventories related to our Oil and Gas Proppants segment.