Which of the following is specifically excluded by AASB 102 from the cost of inventories measurement?
A) Trade discounts received
B) Freight (where the terms of sale are FOB destination)
C) Costs of designing inventory for an individual customer.
D) Costs of converting supplies into specific products for sale.

Question

Quizplus · Accepted Answer

Freight costs where the terms of sale are FOB destination are specifically excluded by AASB 102 from the cost of inventories measurement because these costs are considered to be related to the delivery of goods rather than the acquisition or production of inventories.

Which of the Following Is Specifically Excluded by AASB 102