2.2 Inventories
CHF million |
| Financial year ended 30.06.2021 |
| Financial year ended 30.06.2020 |
Inventories, net |
| 450.6 |
| 445.0 |
Allowance for obsolete and slow-moving items |
| 60.6 |
| 57.1 |
Inventories, gross |
| 511.2 |
| 502.1 |
Raw materials and supplies |
| 228.5 |
| 205.8 |
Semi-finished goods and work in progress |
| 84.8 |
| 74.6 |
Finished goods |
| 193.9 |
| 218.7 |
Prepayments to suppliers |
| 4.0 |
| 3.0 |
Accounting principles
Inventories are valued at the lower of purchase/manufacturing cost and net realizable value. Cost is determined using the weighted average method. Manufacturing cost includes direct labor and material as well as a commensurate share of related overhead cost. Allowances are made for obsolete and slow-moving items. Cash discounts from suppliers are treated as purchase cost reductions.