Inventories
Inventories
are stated at the lower of cost or net
realizable value. Cost is determinied by moving-average method wich includes
all costs that occur to get this inventories to the location and currrent
conditions. Net realizable value is the estimated selling price in the ordinary
course of business, less estimated cost
of completion and the estimated cost necessary to make the sale. Allowanace for inventory obsolescence is provided based on a review of the condition of the
inventories at the end of the year.
Cash and Cash Equivalents
Cash and cash equivalents represent cash on hand and in banks and time
deposits with maturities of 3 months or less at the time of placement, not
pladged as collateral for loans and without restrictions in the usage.
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