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14. Under IFRS, which of the following would be included in the cost of inventories?A. Product...

14. Under IFRS, which of the following would be included in the cost of inventories?A. Product specific designer costs.B. Abnormal waste materials.C. Selling costs.D. All of these would be included in the cost of inventories.

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Answer #1

Answer : A) product specific designer costs

Explanation:

Cost of inventory include all costs that are directly related to the acquisition of finished goods. Selling cost is related to the sales of the product and not inventory. Hence it wont be included. Abnormal waste is a loss and will be shown seperately. Hence wont be included in the inventory cost. Product specific designer costs is directly related to the product and henve will be included in the cost of inventory.

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