Annual Report 2012 - ecoWise Holdings Limited

ecoWise Holdings Limitedannual report 201211131 OCTOBER 2012NOTES TO THE FINANCIAL STATEMENTS20. INVENTORIESGroup2012 2011$’000 $’000Raw materials 3,605 4,135Work-in-progress 802 618Finished goods 4,613 4,016Consumables 1,044 99510,064 9,764Inventories are stated after allowance for inventory obsolescence as follows:Group2012 2011$’000 $’000At beginning of the reporting year 102 203Effects of movements in exchange rates (2) (3)Allowance for inventory obsolescence – made/(reversed) 86 (98)At end of the reporting year 186 102At the end of the reporting year, the Group’s inventories with a carrying amount of $621,000 (2011:$1,174,000) are pledged as security to secure loans and borrowings (Note 27A). Raw materials, consumablesand changes in finished goods and work-in-progress recognised as cost of sales during the reporting yearamounted to $51,859,000 (2011: $48,983,000).The reversal of the allowance in the previous reporting year was for inventories sold.