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Inventories

3 Months Ended

Dec. 31, 2012

Inventories consist of the following as of:



	December 31, 2012		September 30, 2012

Raw materials, including corn, coal, chemicals and supplies	$	2,760,603	$	2,048,130
Work in process	1,252,169		1,432,257
Ethanol and distillers grains	3,018,712		2,442,549
Total	$	7,031,484	$	5,922,936

As of December 31, 2012 and September 30, 2012 the Company recognized a reserve of $552,000 and $368,000, respectively, for a lower of cost or market inventory adjustment.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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