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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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