- 25 - 7. OTHER RECEIVABLES Other receivables as at December 31, 2021 and 2020 consisted of: Unit : Million Baht Consolidated financial statements Separate financial statements 2021 2020 2021 2020 Prepaid expenses and advance payment 2,568 1,760 1,032 937 Accrued dividend income - 150 2,859 - Receivable from oil hedging contracts 500 34 500 34 Accrued income 218 469 349 500 Other receivables 1,401 943 904 458 Receivable from The Revenue Department 832 210 676 69 Others 506 160 31 15 Total 6,025 3,726 6,351 2,013 8. INVENTORIES Inventories as at December 31, 2021 and 2020 consisted of: Unit : Million Baht Consolidated financial statements Separate financial statements 2021 2020 2021 2020 Finished goods 31,043 11,604 13,962 7,620 Work in progress 2,686 1,446 1,503 855 Raw materials 16,184 5,868 9,718 4,544 Factory supplies and spare parts 13,433 11,749 9,572 8,596 Goods in transit 7,120 2,960 2,734 1,014 Total 70,466 33,627 37,489 22,629 Less Allowance for decline in value (245) (28) (227) (3) Allowance for obsolescence (496) (154) (282) (38) Net 69,725 33,445 36,980 22,588 Unit : Million Baht Consolidated financial statements Separate financial statements 2021 2020 2021 2020 Inventories recognised as an expense in cost of sales of goods - Cost of sales 407,048 315,658 348,488 268,282 - Loss on (reversal of) devaluation of inventories 217 (275) 224 (237) Net 407,265 315,383 348,712 268,045 As at December 31, 2021 and 2020, the Company’s inventories included petroleum legal reserve of 246 million liters with approximated value of Baht 4,104 million and 227 million liters with approximated value of Baht 2,204 million, respectively. 9. INVESTMENTS IN SUBSIDIARIES Movements of investments in subsidiaries for the years ended December 31, were as follows: Unit : Million Baht Separate financial statements 2021 2020 Subsidiaries As at January 1, 76,486 72,551 Acquisitions 34,674 3,935 Allowance for impairment (3,853) - As at December 31, 107,307 76,486 257 BUSINESS OPERATION AND PERFORMANCE CORPORATE GOVERNANCE FINANCIAL REPORTS AND FINANCIAL STATEMENTS APPENDIX
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