Question

Which of the following would be included in inventory? For any amount not included in inventory, explain where the amount would be recorded.
(a) Raw materials costs of leather, to a manufacturer of leather furniture
(b) Cost of cans of corn held on the shelves of a grocery store
(c) The cost of a truck in the process of being manufactured by an automobile manufacturer
(d) The cost of land being held for development to a property developer
(e) The cost of a van being used as a courtesy vehicle to an automobile service centre
(f) The costs of construction for a home being built for a specific customer, to a builder
(g) The cost of soap and paper towels for the washrooms of a restaurant


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  • CreatedSeptember 18, 2015
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