NCTC FBM - Moorhead                              
                                       INVENTORY CHANGES, 1999                            
                    Northland Community and Technical College Farm Business Mgt.          
                                              Moorhead                                    
                                  (Farms sorted by Net Farm Income)                       


                                            Average Of   Average Of   Average Of
                                             All Farms     Low 20%     High 20% 
                                            -----------  -----------  -----------
 Number of Farms                                    72           14           14

 Net cash farm income                            56581       -23470       150663

 CROPS AND FEED
   Ending inventory                             182539        88193       335817
   Beginning inventory                          160398        91035       289734
   Inventory change                              22142        -2842        46082

 MARKET LIVESTOCK
   Ending inventory                                 -            -            - 
   Beginning inventory                              21          107           - 
   Inventory change                                -21         -107           - 

 ACCTS RECEIVABLE & OTHER CURRENT ASSETS
   Ending inventory                              23347        14281        46633
   Beginning inventory                           18320         6024        22284
   Inventory change                               5027         8257        24348

 PREPAID EXPENSES AND SUPPLIES
   Ending inventory                              30990        10061        63520
   Beginning inventory                           21559         5303        46296
   Inventory change                               9431         4758        17223

 ACCOUNTS PAYABLE
   Beginning inventory                           29235        44943        35958
   Ending inventory                              25712        23771        31925
   Inventory change                               3523        21172         4034

 Total inventory change                          40102        31238        91688

 Net operating profit                            96683         7768       242350