Forex largely explains the admin/corp cost increase, it was...

Forex largely explains the admin/corp cost increase, it was positive in Q3 and full year roughly matches last year. Sales were down as all the pent up China demand occurred in Q3 and has since returned to normal/disrupted and globally Covid is disrupting distribution improvements. In the webinar Rob said the inventory spend was for Q1 manufacturing. He didn't go into general manufacturing timing.

They typically don't keep significant finished product on hand. Q2 manufacturing spending lifted in preparation for NMPA approval but in that case they had significant orders waiting. Given they were sitting on 500K in raw material start of FY19/20 and almost no WIP/FP I don't know why 123K extra was worth highlighting especially since they would've run it down significantly. The annual report may give a better idea.