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Inventories | 6 Months Ended
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Jun. 30, 2022
Inventory Disclosure [Abstract] |
INVENTORIES |
4. | INVENTORIES.
Inventories consisted primarily of bulk ethanol, specialty alcohols, corn, essential ingredients and unleaded fuel, and are valued at the lower of cost or net realizable value, with cost determined on a first-in, first-out basis. Inventory is net of a valuation adjustment of $3,010,000 and $0 as of June 30, 2022 and December 31, 2021, respectively. Inventory balances consisted of the following (in thousands):
|  | June 30, 2022 |  |  | December 31, 2021 |
Finished goods |  | $ | 44,610 |  |  | $ | 35,509 |
Work in progress |  |  | 8,586 |  |  |  | 6,909 |
Raw materials |  |  | 13,171 |  |  |  | 10,837 |
Other |  |  | 1,071 |  |  |  | 1,118 |
Total |  | $ | 67,438 |  |  | $ | 54,373 |

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI https://asc.fasb.org/topic&trid=2126998 + Details
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