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    Business
  3. Study Set
    Fundamental Accounting Principles
  4. Exam
    Exam 6: Inventory Costing and Valuation
  5. Question
    The Cost of an Inventory Item Includes Its Invoice Price
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The Cost of an Inventory Item Includes Its Invoice Price

Question 139

Question 139

True/False

The cost of an inventory item includes its invoice price plus any added or incidental costs necessary to put it in a place and condition for sale.

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