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Re: Rawnoc post# 132382

Wednesday, 08/31/2011 2:08:39 PM

Wednesday, August 31, 2011 2:08:39 PM

Post# of 312030
Finished goods pricing is different than the raw materials cost.

Plastic was free = $0.00
Processing, labor, storage, etc cost money. THUS finished goods.
That is your inventory cost that should be on the 10Q if there WAS ANY INVENTORY. THERE IS NO INVENTORY.


BP

inventory held for trading be recorded at its fair value using period end spot prices whereas any related
derivative commodity instruments are required to be recorded at values based on forward prices consistent with the contract
maturity. Depending on market conditions, these forward prices can be either higher or lower than spot prices resulting in
measurement differences.

http://www.bp.com/liveassets/bp_internet/globalbp/STAGING/global_assets/downloads/B/bp_third_quarter_2010_results.pdf

Just sayin'