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8. Inventories | 12 Months Ended
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Dec. 31, 2015
Inventories |
|  | 2015 |  |  | 2014 |
|  | US$’000 |  |  | US$’000 |
Raw materials |  |  | 131 |  |  |  | 146 |
Work in progress |  |  | 39 |  |  |  | 38 |
Finished goods |  |  | 387 |  |  |  | 359 |
|  |  | 557 |  |  |  | 543 |
Management continuously reviews obsolete and slow moving inventories and assesses the inventory valuation to determine if the provision is deemed appropriate. For the year ended December 31, 2015, and 2014, provision for obsolete and slow moving inventories amounted to US$5,000 and US$8,000, respectively, which were charged to cost of revenue in Consolidated Statements of Income.
ZHEJIANG JIAHUAN |
Inventories |
|  | 2015 |  |  | 2014 |
|  | RMB’000 |  |  | RMB’000 |
Raw materials |  |  | 5,603 |  |  |  | 3,763 |
Work in progress |  |  | 7,840 |  |  |  | 9,840 |
Finished goods |  |  | 8,020 |  |  |  | 18,646 |
|  |  | 21,463 |  |  |  | 32,249 |
ZHEJIANG TIANLAN |
Inventories |
|  | 2015 |  |  | 2014 |
|  | RMB’000 |  |  | RMB’000 |
Raw materials |  |  | 6,586 |  |  |  | 9,121 |
Work in progress |  |  | 5,525 |  |  |  | 6,360 |
Finished goods |  |  | - |  |  |  | 573 |
|  |  | 12,111 |  |  |  | 16,054 |

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- Definition The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a, b, c -Article 5 + Details
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