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Inventories

12 Months Ended

Sep. 30, 2018

7) Inventories

The Company’s product inventories are stated at the lower of cost and net realizable value computed on the weighted average cost method. All other inventories, representing parts and equipment are stated at the lower of cost and net realizable value using the FIFO method. The components of inventory were as follows (in thousands):

	September 30,
	2018		2017
Product		34,618	$	37,941
Parts and equipment		21,759		21,655
Total inventory	$	56,377	$	59,596

Product inventories were comprised of 16.3 million gallons and 24.2 million gallons on September 30, 2018 and September 30, 2017, respectively. The Company has market price based product supply contracts for approximately 287.0 million gallons of home heating oil and propane, and 44.8 million gallons of diesel and gasoline, which it expects to fully utilize to meet its requirements over the next twelve months.

During fiscal 2018, Global Companies LLC provided approximately 8% and during fiscal 2017, Global Companies LLC and NIC Holding Corp. provided approximately 13% and 8%, respectively, of our petroleum product purchases. No other single supplier provided more than 8% of our product supply during fiscal 2018 and 2017.