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Incidental costs most commonly added to the costs of inventory include import duties, freight, storage, and insurance. True or False True False All incidental costs
Incidental costs most commonly added to the costs of inventory include import duties, freight, storage, and insurance. True or False True False All incidental costs of inventory acquisition and handling, whether necessary or not, are assigned to inventory. True or False True False The lower of cost or market rule for inventory valuation must be applied to each individual unit separately and not to major categories of inventory or to the entire inventory True or False True False
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