134 MEGACHEM LIMITED Notes to The Financial Statements 31 December 2024 17. Inventories Group Company 2024 2023 2024 2023 $ $ $ $ Finished goods 31,742,578 33,561,171 15,514,618 15,473,216 Inventories are stated after allowance. Movements in allowance during the year: Balance at beginning of the year 6,103,650 4,661,436 2,405,000 1,858,000 Charge to profit or loss 1,689,628 8,557,525 433,760 7,497,208 Amount written off against allowance (612,732) (7,024,686) (534,760) (6,950,208) Currency translation differences 47,394 (90,625) – – Balance at end of the year 7,227,940 6,103,650 2,304,000 2,405,000 Group 2024 2023 $ $ The write-downs of inventories charged to profit or loss included in cost of sales (Note 5) 1,689,628 8,557,525 Decrease in inventories of finished goods charged to profit or loss included in cost of sales 1,818,593 15,777,133 Purchase of inventories 92,461,807 81,456,539 Certain inventories are pledged as security for banking facilities as at 31 December 2024 and 31 December 2023 (see Note 25).
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