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Inventories
12 Months Ended
Dec. 31, 2020
Inventories [Abstract]  
Inventories 8. INVENTORIES

Inventories are carried at the lower of cost or net realizable value, except grain held for sale and fair-value hedged inventories. Commodities held for sale are reported at market value. As of December 31, 2020, there was no lower cost of market inventory adjustment recorded. The company recorded a $6.6 million lower of cost or market inventory adjustment reflected in cost of goods sold within the ethanol production segment as of December 31, 2019.


The components of inventories are as follows (in thousands):

December 31,

2020

2019

Finished goods

$

89,223

$

85,975

Commodities held for sale

40,147

42,836

Raw materials

90,800

77,900

Work-in-process

13,201

13,523

Supplies and parts

36,120

32,758

$

269,491

$

252,992