Indicate whether the following would be considered inventory for a public company like Toyota Motor Corporation. If so, indicate the inventory category to which that item would belong.
(a) Engines purchased to make the Toyota Corolla
(b) Nuts and bolts purchased to attach the engine to the car body
(c) Spare parts purchased for the manufacturing equipment
(d) Standby equipment in case a machine breaks down
(e) Wages paid to assembly-line employees
(f) Rent for manufacturing facility
(g) Wages paid to supervisor
(h) Toyota Corolla ready to be shipped to the dealer
(i) Manufacturing plant
How would your responses change if the manufacturer followed ASPE?·

  • CreatedSeptember 18, 2015
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