The following exercises require only basic (free) access to ifrs.org . You will need to register with the web- site in order to access these free standards. Certain questions also involve firm resources. Cite the source for each of your responses. 5. Should an entity include freight (or transportation) costs incurred to purchase inventory in the capitalized cost of its inventory? 6. What is the obligating event that gives rise to a liability for companies to pay a levy