Under IFRS which of the following would be included in the c

Under IFRS, which of the following would be included in the cost of inventories?

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Product specific designer costs

Selling costs

Abnormal waste materials

All of these would be included in the cost of inventories

Answer: Product specific designer costs.

Explanation:

Product specific designer costs are direct costs of production and hence inventoriable.

The other two are specifically excluded under IAS 2, which says that the following should not be included in inventory cost: