Notes for P&L

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Not 14 Inventory

	2025-12-31	2024-12-31
Finished goods and merchandise	123,573	116,505
Goods in transit	23,707	19,227
Inventory related to return rights	848	977
Inventory obsolescence	-3,682	-3,480
Total	144,446	133,228

Inventories are measured at the lower of cost and net realisable value, with cost determined using the FIFO method (first in, first out). Purchased goods are measured at cost. Net realisable value is defined as the estimated selling price less costs to sell. Adjustments to net realisable value include assessments of inventory obsolescence.

The right of return is considered when determining the transaction price, and revenue is reduced by the expected sales value of products anticipated to be returned and recognised as a refund liability. A right-of-return asset is recognised for the right to recover products from customers. Historical data is used as a basis for estimating return rates at the time of sale. The provision for returns is measured to ensure that there is no material risk of reversal of recognised revenue in subsequent reporting periods, based on an average of actual returns over the 12 months preceding the reporting period.