Notes tothe financial statements For the financial year ended 31 December 2023 23. Inventories Group 2023 2022 Rp million Rp million Balance sheet: Raw materials 1,049,297 1,264,845 Finished goods 871,293 1,376,694 Spare parts and factory supplies 550,588 626,497 Total inventories at the lower of cost and net realisable value 2,471,178 3,268,036 Group Note 2023 2022 Rp million Rp million Consolidated statement of comprehensive income: Inventories recognised as an expense in cost of sales, net 5 12,794,095 13,160,035 Inclusive of the following charges: - Allowance for decline in market value and obsolescence of inventories 60,117 134,094 - Reversal of decline in market value and obsolescence of inventories (133,189) (55,771) 5 (73,072) 78,323 Allowance for decline in market value of inventories and obsolescence of inventories is estimated based on the best available facts and circumstances, including but not limited to, the inventories’ own physical conditions, their market selling prices, estimated costs of completion and estimated costs to be incurred for their sales. The provisions are re-evaluated and adjusted as additional information are received at the reporting date. As at 31 December 2023, inventories are covered by insurance against losses from fire and other risks under a certain policy package with total coverage of Rp1,927.1 billion (2022: Rp1,809.9 billion) which in management’s opinion, is adequate to cover possible losses that may arise from such risks. 130 GROUP OVERVIEW OPERATION AND FINANCIAL REVIEW SUSTAINABILITY & GOVERNANCE FINANCIALS OTHER INFORMATION Indofood Agri Resources Ltd
RkJQdWJsaXNoZXIy NTkwNzg=