Expenditures that should be included in the cost of inventory of a manufacturing company are the necessary costs which are incurred to get the goods in location for sale and the purchase price of the goods.
The cost of inventory generally includes the cost of purchased merchandise after deducting discounts which are taken and also adding any duties and transportation costs paid by the purchaser.
If the merchandise is to be assembled or is otherwise prepared for sale, then the total cost incurred for getting the product ready for sale is considered as a part of the cost of inventory.
Inventory costs include warehousing as well as insurance expenses associated with storing unsold merchandise.
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