Inventories

What are Inventories?

Inventories represent the assets that are intended to be sold or consumed to create products to be sold, measured at lower cost or market or held during the ordinary course of business. Net of allowance for obsolescence and price decline.

What do Inventories include?

Inventories - Work In Progress;
Inventories - Progress Payments & Other;
Inventories - Finished Goods;
Inventories - Raw Materials.