| 2.3.5 | Inventories - |
Inventories are valued at the lower of cost and net realizable value. Costs incurred in bringing each product to its present location and conditions are accounted for as follows:
Raw materials
| - | Purchase cost determined using the weighted average method. |
Finished goods and work in progress
| - | Cost of direct materials and supplies, services provided by third parties, direct labor and a proportion of manufacturing overheads based on normal operating capacity, excluding borrowing costs and exchange currency differences. |
Inventory in transit
| - | Purchase cost. |
Net realizable value is the estimated selling price in the ordinary course of business, less estimated cost of completion and the estimated costs necessary to make the sale.