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Hello Mike.
What about storage costs for raw materials stored at the premises of a third party?
Are they included as part of cost of inventory please?According to IAS 2 (paragraphs 16 and 18) inventory cost should not include storage costs (unless necessary for the production process)
Ah that means it’s correct to include those of raw materials.. I thought the issue was with it being on third party premises.
Thank you sir 🙂
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