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Inventories | 9 Months Ended
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May 31, 2019
Inventory Disclosure [Abstract] |
Inventories | Inventories
| May 31, 2019 |  | August 31, 2018
| (Dollars in thousands)
Grain and oilseed | $ | 1,115,510 |  |  | $ | 1,298,522 |
Energy | 899,150 |  |  | 715,161 |
Agronomy | 635,560 |  |  | 246,326 |
Feed and farm supplies | 567,952 |  |  | 391,906 |
Processed grain and oilseed | 104,113 |  |  | 99,426 |
Other | 16,036 |  |  | 17,308 |
Total inventories | $ | 3,338,321 |  |  | $ | 2,768,649 |
As of May 31, 2019, we valued approximately 20% of inventories, primarily related to our Energy segment, using the lower of cost, determined on the LIFO method, or net realizable value (16% as of August 31, 2018). If the FIFO method of accounting had been used, inventories would have been higher than the reported amount by $283.9 million and $345.0 million as of May 31, 2019, and August 31, 2018, respectively. An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the 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.

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- References No definition available. + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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