New NABARD Grade A : How to prepare ESI for Prelims & Mains- Sources & Strategy
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Question

Which of the following is included in the 'Cost of Inventory' according to Accounting Standard-2 (Inventory Valuation):

A Administrative overheads that do not contribute to bringing the inventories to their present location and condition Correct Answer Incorrect Answer
B Storage costs which are necessary in the production process prior to a further production stage Correct Answer Incorrect Answer
C Selling and distribution costs Correct Answer Incorrect Answer
D Duties and taxes paid on purchases, subsequently recoverable by the enterprise from the Tax Authorities Correct Answer Incorrect Answer

Solution

The correct answer is B

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