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During 2014, Midori Ito Corporation constructed and manufactured certain assets and incurred the following interest costs in connection with those activities. Interest Costs Incurred Warehouse
During 2014, Midori Ito Corporation constructed and manufactured certain assets and incurred the following interest costs in connection with those activities.
Interest Costs Incurred | |||
Warehouse constructed for Itos own use | $30,600 | ||
Special-order machine for sale to unrelated customer, produced according to customers specifications | 9,110 | ||
Inventories routinely manufactured, produced on a repetitive basis | 8,850 |
All of these assets required an extended period of time for completion. Assuming the effect of interest capitalization is material, what is the total amount of interest costs to be capitalized?
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