The Cost of an Inventory Item Includes Its Invoice Cost

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.

---

Definitions:

Cones

Visual receptors involved in color vision.

Retina

Neural tissue lining the back of the eyeball’s interior, which contains the receptors for vision.

Subliminal Perception

The processing of information by sensory systems without a person's conscious awareness.

Conscious Awareness

The state of being aware of one's own existence, sensations, thoughts, surroundings, and experiences.