GuestCost of Inventories
Source: Ind AS 2 (summary)
The cost of inventories includes the purchase price, import duties, non-refundable taxes, transport and other costs directly attributable to acquisition, less trade discounts and rebates. Refundable taxes are excluded, and selling costs and abnormal wastage are charged to expense as they arise.
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About Accounting
Accounting principles in short, plain-language summaries: double entry, accrual, going concern and prudence, then Ind AS topics such as inventories, cash flows, events after the reporting period, income taxes, property, plant and equipment, employee benefits, government grants and foreign currency.