The cost of inventory is defined by IAS 2 as including:
A)the cost of purchase and conversion.
B)duties and taxes on purchase of goods or services for sale.
C)the cost incurred in the normal course of operations to bring the inventories to their present location and condition.
D)all of the given answers.

Question

Quizplus · Accepted Answer

The cost of inventory includes all of the given answers, which are the cost of purchase and conversion, duties and taxes on purchase of goods or services for sale, and the cost incurred in the normal course of operations to bring the inventories to their present location and condition, according to IAS 2.

The Cost of Inventory Is Defined by IAS 2 as Including