INVENTORIES

Inventories consisted of the following at:



	January 31, 2020		October 31, 2019

Raw materials	$	3,201,958	$	2,801,255
Spare parts and supplies	3,618,980		3,384,360
Work in process	739,539		743,850
Finished goods	401,037		437,891
Total	$	7,961,514	$	7,367,356

The Company recorded a lower of cost or net realizable value write-down on corn inventory of approximately $465,000, ethanol inventory of approximately $20,000 and dried distillers grains inventory of approximately $16,000 at January 31, 2020.