According to IAS 2,what should the cost of inventories comprise?
A) Costs of purchase
B) Costs of conversion
C) Costs incurred in bringing the inventories to their present condition and location
D) All of the previous costs

Question

Quizplus · Accepted Answer

The cost of inventories as per IAS 2 should comprise of all the costs mentioned in options A, B, and C, which are costs of purchase, costs of conversion, and costs incurred in bringing the inventories to their present condition and location. Therefore, the correct answer is option D, i.e., all of the previous costs.

According to IAS 2,what Should the Cost of Inventories Comprise