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Inventories

3 Months Ended

Mar. 31, 2014

3. Inventories

The following table sets forth the components of the Company’s inventory balances (in thousands).

	March 31,		December 31,
	2014		2013
Raw materials
Corn	$	1,301	$	1,456
Enzymes and other inputs		584		514
Finished goods		247		192
Work in process		209		224
Spare parts		1,382		1,195

Total inventories	$	3,723	$	3,581

Included in cost of goods sold is depreciation of $0.5 million during each of the three months ended March 31, 2014 and 2013. Depreciation expense included in cost of goods sold from Inception to March 31, 2014 was $7.3 million.

- 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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