182 Annual Report 2021 21. PROPERTY DEVELOPMENT COSTS (CONT’D) Included in the above are: (i) titles of freehold land amounting to RM7,652,171 (2020: RM10,766,809) which have been pledged with a financial institution for term loan facility granted to certain subsidiaries as disclosed in Note 32; and (ii) freehold and leasehold land amounting to RM354,347,145 (2020: RM250,669,370) represent entitlements of the landowners pursuant to joint venture and joint land development agreements to undertake property development projects. The titles to the development land will be transferred from landowners to the property purchasers. 22. INVENTORIES The Group 2021 2020 RM RM At cost: Raw materials 261,879 243,448 Work-in-progress 326,557 214,021 Finished goods 1,126,523 980,257 Food and beverages 19,413 22,087 Plantation consumables 14,567,267 10,545,329 Fertilizers 12,693,641 12,948,843 Crude palm oil and palm kernel 17,713,779 4,745,929 Completed development properties 115,061,833 107,444,154 161,770,892 137,144,068 During the financial year, the cost of inventories recognised as an expense in cost of sales of the Group is RM255,267,394 (2020: RM240,713,032). In the previous financial year, the Group transferred completed inventories amounted to RM54,161,808 to investment properties as disclosed in Note 14 due to the change in management intention. Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2021
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