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    Fundamental Accounting Principles Study Set 1
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    Exam 6: Inventories and Cost of Sales
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    The Cost of an Inventory Item Includes Its Invoice Cost
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The Cost of an Inventory Item Includes Its Invoice Cost

Question 196

Question 196

True/False

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

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