SRI TRANG AGRO-INDUSTRY PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2010
10
Inventories Group
At cost 2010 2009 Baht’000 Baht’000
Allowance for inventory cost in excess of net realisable value 2010 2009 Baht’000 Baht’000
Inventories, net 2010 2009 Baht’000 Baht’000
Finished goods Work-in-progress Raw materials, vessel and chemicals Spare parts and supplies
10,715,753 2,749,258
5,322,286 1,102,755
-
-
10,715,743 2,749,258
5,322,286 1,102,755
6,757,184
3,688,581
(3,531)
(4,484)
6,753,653
3,684,097
63,779
64,101
-
-
63,779
64,101
Total
20,285,974 10,177,723
(3,531)
(4,484) 20,282,433 10,173,239
Company At cost 2010 2009 Baht’000 Baht’000 Finished goods Work-in-progress Raw materials, vessel and chemicals Spare parts and supplies Total
Allowance for inventory cost in excess of net realisable value 2010 2009 Baht’000 Baht’000
Inventories, net 2010 2009 Baht’000 Baht’000
4,904,516 1,087,570
2,864,790 576,962
-
-
4,904,516 1,087,570
2,864,790 576,962
4,488,554
3,217,241
-
-
4,488,554
3,217,241
24,364
26,670
-
-
24,364
26,670
10,505,004
6,685,663
-
-
10,505,004
6,685,663
The cost of inventories recognised as expense and included in ‘costs of sales and services’ amounting to Baht 76,663,952 thousand (2009: Baht 40,750,539 thousand). Inventories are carried at lower of cost and net realisable value. During 2010, the Group reversed allowance for inventory cost in excess of net realisable value amounted to Baht 953 thousand (2009: Baht 683,560 thousand) as a result of an improvement in the market prices of rubber. The amount reversed has been included in ‘costs of sales and services’ in the statement of comprehensive income. Inventories of subsidiaries with net book value amounted to Baht 1,106 million (2009: Baht 1,106 million) were pledged as collateral for short-term loans from financial institutions and long-term loans as discussed in Note 18.
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