13.8. COSTS

 Costs

Cost of sales includes costs of finished goods, merchandise, services and raw materials sold and adjustments related to inventories written down to net realizable value.

Costs are adjusted for profits or losses from settlement of cash flow hedging instruments related to the above mentioned costs.

Distribution expenses include selling brokerage expenses, trading expenses, advertising and promotion expenses as well as distribution expenses as well as the fees incurred by the Group resulting from legal regulations, calculated based on the volumes of certain goods introduced to the market, such as NCR and NCW.

Administrative expenses include expenses relating to management and administration of the Group as a whole.

13.8.1. Cost of sales

13.8.2. Cost by nature