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Inventories | 12 Months Ended
--- | ---
Jun. 30, 2022
Inventories |
Inventories |
24 | Inventories
​
​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
for the year ended 30 June | ​ | Rm | ​ | Rm
Carrying value | ​ | ​ | ​ | ​
Crude oil and other raw materials |  | 6 515 |  | 4 269
Process material |  | 2 079 |  | 1 834
Maintenance materials |  | 5 636 |  | 5 585
Work in progress |  | 2 661 |  | 2 560
Manufactured products |  | 23 988 |  | 15 315
Consignment inventory |  | 231 |  | 179
​ |  | 41 110 |  | 29 742
​ A net realisable value write-down of R451 million was recognised in 2022 (2021 - R83 million). Inventory of R1 803 million (2021 – R1 118 million) is held at net realisable value. Accounting policies: Inventories are stated at the lower of cost and net realisable value. Cost includes expenditure incurred in acquiring, manufacturing and transporting the inventory to its present location. Manufacturing costs include an allocated portion of production overheads which are directly attributable to the cost of manufacturing such inventory. The allocation is determined based on the greater of normal production capacity and actual production. The costs attributable to any inefficiencies in the production process are charged to the income statement as incurred. By-products are incidental to the manufacturing processes, are usually produced as a consequence of the main product stream, and are immaterial to the group. Revenue from sale of by-products is offset against the cost of the main products. Cost is determined as follows:
​ | ​
Crude oil and other raw materials | First-in-first-out valuation method (FIFO)
Process, maintenance and other materials | Weighted average purchase price
Work-in-progress | Manufacturing costs incurred
Manufactured products including consignment inventory | Manufacturing costs according to FIFO

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