NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 CONT’D 19. INVENTORIES Group 2023 2022 RM RM At Net Realisable Value EDC equipment 4,412,129 1,239,988 Others 526,457 44,761 At cost EDC equipment 405,843 588,274 Prepaid airtime PINS 64,554,025 87,443,294 Others 1,262,845 673,755 71,161,299 89,990,072 (a) Inventories are stated at lower of cost and net realisable value. (b) Cost of inventories is determined using the first-in, first-out formula. (c) During the financial year, inventories of the Group recognised as cost of sales amounted to RM107,206,133 (2022: RM118,624,226). (d) In addition, the amounts recognised in the other operating expenses include the following: Group 2023 2022 RM RM Inventories written off - 93,884 (e) During the financial year, inventories of the Group amounting to RM20,237,849 (2022: RM21,841,003) have been transferred from property, plant and equipment as disclosed in Note 12 as the inventories are held for sale. (f) In the previous financial year, the Group wrote back inventories of RM1,042,266 which were previously written off. (g) In the previous financial year, the Group reversed RM57,216 in respect of inventories previously written down. 132 GHL SYSTEMS BERHAD 199401007361 (293040-D)
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