Question

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

Answer 1

statement is true

Step-by-step explanation:

the given statement is true because

as we know the costs of an inventory item is includes the

invoice price - discount ( if any discount is given ) + any added or incidental cost

but we have given invoice cost + any added or incidental costs - any discount

so we can say the given statement is true