All of the following costs are excluded while computing value of inventories except?

CA Intermediate · Advanced Accounting · MTP · May 2024
All of the following costs are excluded while computing value of inventories except?
(A) Selling and Distribution costs
(B) Allocated fixed production overheads based on normal capacity.
(C) Abnormal wastage
(D) Storage costs (which is necessary part of the production process)

Suggested Answer and Working Notes:

Correct Answer: Option (B)

Allocated fixed production overheads based on normal capacity.

Topics: AS 14

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