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Tatum Incorporated manufactures wooden toys. It prepares its financial statements in accordance with IFRS. The CFO notes that in addition to the standard purchase and
Tatum Incorporated manufactures wooden toys. It prepares its financial statements in accordance with IFRS. The CFO notes that in addition to the standard purchase and conversion costs of $2.3 million, the following inventory costs must be allocated either to inventory or expensed in the current period. Costs for climate controlled storage units necessary for specialty wood materials of $160,000; Transportation costs to priority and international customers of $250,000; Taxes and import duties of $275,000. What amount will the CFO most likely expense in the current period rather than include in product costs? $275,000 $160,000 $250,000
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