Note 4 - Inventory
 12 Months Ended
Dec. 31, 2015
Inventory Disclosure [Abstract]  
Inventory Disclosure [Text Block]

4)

Inventory

The carrying values of inventory were as follows as of December 31:


   

2015

    

2014

  

At average cost (approximates current cost)

                

Finished goods

   $ 35,517     $ 25,369  

Work in process

     1,695       2,391  

Raw materials and supplies

     31,247       25,935  
Total inventories at weighted average cost     68,459       53,695  

LIFO reserve

     (3,502

)

     (8,342

)

Total inventories

   $ 64,957     $ 45,353  

In the year ended December 31, 2014, a change in inventory quantities and price index values resulted in a partial liquidation of inventory in FutureFuel’s LIFO inventory which reduced cost of goods sold by $945. No such liquidation occurred in the year ended December 31, 2015.  In the aggregate, the inventory was carried at the lower costs prevailing in prior years as compared to the cost of purchases.  A lower of cost or market adjustment was recorded at December 31, 2015 of $1,595 which was caused primarily by the change in the LIFO reserve.  No such adjustment was recorded at December 31, 2014.