Which of the following costs would not be included in the inventory cost?
A)Invoice price
B)Cost of goods held on consignment
C)Freight-in
D)Sales tax

Question

Quizplus · Accepted Answer

Cost of goods held on consignment are not included in the inventory cost because these goods are owned by the consignor, not the consignee, and thus do not represent a cost to the entity holding them for sale.

Which of the Following Costs Would Not Be Included in the Inventory