Looking through the annual report I actually think the disclosures are quite lacking for a set of general purpose FS. The revenue note still uses disclosure language from the old revenue standard AASB 118. The accounting policy indicates customers are responsible for pick up/shipping of goods which seems inconsistent with the discrepancies we've seen between orders and actual revenue. Unless the issue is customers needing to delay shipments or not able to arrange transport until later. With so much inventory on hand they should be able to supply any order that comes in pretty quickly.
They also don't detail the movement in NRV provision on inventories so we don't know what the gross inventory is and how much they are writing down - potentially not a big deal given the nature of the stock unlikely to become obsolete and they generate positive gross margin anyway....
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Looking through the annual report I actually think the...
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