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Other cost
The standard lists types of cost which would not be included in cost of inventories instead they should be recognised as an expense in the period they are incurred.A) storage costs ( except costs which are necessary in the production process before a further prouction stage)
My question is then which storage costs will be expensed.
Those which are costs which are not necessary in the production process before a further prouction stage!
When goods are classed as “finished” but they remain unsold the costs of storing those goods (for example warehouse costs) are NOT to be included within the inventory valuation.
Instead, they will be expensed as incurred
OK?
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