IAS 2 Inventories

No

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 :)

You're welcome