According to IFRS, all of the following costs should be included in the cost of inventory except:
A)cost of materials for a special order.
B)direct labour involved in manufacturing the product.
C)supervisors' salaries in the plant.
D)storage costs.

Question

Quizplus · Accepted Answer

Storage costs are generally considered as a period cost rather than a product cost and should not be included in the cost of inventory according to IFRS, unless those costs are necessary in the production process before a further production stage.

According to IFRS, All of the Following Costs Should Be