INVENTORIES

Our inventories at March 31, 2013 and December 31, 2012 include the following components:



	As of		As of
	March 31,		December 31,
	2013		2012
Stockpiled ore	$	30,218	$	33,130
In-process	11,422		7,571
Materials and supplies	48,610		43,548
Finished goods	2,600		5,963
Total	$	92,850	$	90,212

There were approximately 45,000 recoverable ounces of gold in the ore stockpiles and in-process inventories at March 31, 2013 and December 31, 2012. Finished goods at March 31, 2013 and December 31, 2012 consisted of 1,916 and 5,070 ounces, respectively, of unsold gold. Stockpile inventories are short-term surge piles expected to be processed within the next 12 months. Net realizable value adjustments of $0.8 million and $0.1 million were recorded at Bogoso in 2013 and 2012, respectively. The net realizable value adjustments during 2013 were related to refractory ore stockpiles and the 2012 net realizable adjustment is related to non-refractory plant in process inventory. Material and supply inventories of nil and $0.5 million were written off in 2013 and 2012, respectively, due to obsolescence and counts.