Sir whether selling and distribution costs are added to inventory cost under AS-2... They are the costs incurred in bringing the inventory to current position.. Kindly clarify...
8 Replies
Belda Ramesh
(35 Points)
Replied 31 January 2020
As per AS 2 only the cost incurred to bring the inventory into current location and
condition is included in the value of inventory
generally selling and distribution cost is not included
condition is included in the value of inventory
generally selling and distribution cost is not included
ACCOUNTANT
(Student)
(559 Points)
Replied 01 February 2020
Does it mean selling costs incurred to the buyer or seller
ACCOUNTANT
(Student)
(559 Points)
Replied 01 February 2020
Ok i understood... I was thinking from buyer point of view
Belda Ramesh
(35 Points)
Replied 01 February 2020
As selling expense generally included as an overhead expenses in cost of product
this cost is unidentifiable to buyer
so,it can include in purchasing cost to buyer
this cost is unidentifiable to buyer
so,it can include in purchasing cost to buyer
ACCOUNTANT
(Student)
(559 Points)
Replied 01 February 2020
That means it would be included in the inventory cost of the buyer.... Am I right now sir
(Guest)
| Originally posted by : ACCOUNTANT | ||
 |
Sir whether selling and distribution costs are added to inventory cost under AS-2... They are the costs incurred in bringing the inventory to current position.. Kindly clarify... |  |
These are costs incurred to promote and sell the products, which occurs after bringing inventories to their intended condition.
(Guest)
| Originally posted by : ACCOUNTANT | ||
|
Sir whether selling and distribution costs are added to inventory cost under AS-2... They are the costs incurred in bringing the inventory to current position.. Kindly clarify... | |
These are costs incurred to promote and sell the products, which occurs after bringing inventories to their intended condition.
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