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Inventories
 12 Months Ended
Dec. 31, 2021
Classes Of Inventories [Abstract]  
Inventories

11.

INVENTORIES

 

 

 

December 31

 

 

 

2020

 

 

2021

 

 

 

NT$

 

 

NT$

 

 

 

(In Millions)

 

Merchandise

 

$

3,903

 

 

$

4,070

 

Project in process

 

 

6,167

 

 

 

4,805

 

Work in process

 

 

126

 

 

 

145

 

Raw materials

 

 

137

 

 

 

224

 

 

 

 

10,333

 

 

 

9,244

 

Land held under development

 

 

1,999

 

 

 

1,999

 

Construction in progress

 

 

77

 

 

 

84

 

 

 

$

12,409

 

 

$

11,327

 

 

The operating costs related to inventories were $49,258 million, $53,847 million and $51,180 million for the years ended December 31, 2019, 2020 and 2021, respectively.

For the years ended December 31, 2019, 2020 and 2021, valuation loss on inventories recognized as operating costs included the amounts of $475 million, $1,161 million and $207 million, respectively.

As of December 31, 2020 and 2021, inventories of $2,076 million and $2,083 million, respectively, were expected to be recovered for a time period longer than twelve months.  The aforementioned amount of inventories is related to property development owned by LED.

Land held under development and construction in progress was mainly developed by LED for Qingshan Sec., Dayuan Dist., Taoyuan City project.  The Board of Directors of LED resolved to sign a joint construction and separate sale contract with Farglory Land Development Co., Ltd. in June 2021.