summary report, page-14

PU, you are basically correct. Unfortunately there will be some other variables to be included. LYC will be required to value closing inventory at fair value, which must be not more than cost, or market value minus reasonable selling and delivery expenses. WE can therefore assume that all inventory numbers in LYC reports are calculated on this basis. COP is a basically a cash /B/S item, while COS is a P&L item.
I would expect LYC to operate basic accounting systems that would in fact track and record COS for each product sold, and integrated costing systems that would allow accurate and timely reporting of actual profits/losses on each invoice/shipment. Unfortunately we do not have access to these records, therefore we can only calculate actual COS when the information is published by LYC. LYC does however publish COP in each QY. If we were advised opening and closing inventory, we could then calculate COS as follows.
O+COP-COS=C
S-COS=GP

WE have been advised a number of metrics which will assist tracking this information in the future, and more particularly when nameplate production is achieved as there should not be any further fair value adjustments made to COP unless the market value of some FGDS is below cost. Even then, provided the basket price of FGDS is higher than the basket cost, there would be a very good argument to value all in the basket at cost, being the components of a batch manufacturing process where some products earn a super profit, but this can only be achieved by producing the basket of products, including the low value items. it then becomes a question of direct cost allocation to specific FGDS.
I have prepared a simplistic model tracking inventory, receivables and bank balances using LYC published metrics and will test the accuracy of the model when LYC publishes the 31 Dec figures. If my model is tracking the published numbers, I will consider posting on HC. I have run the model to 30 June at this point in time.