Test your knowledge of double entry bookkeeping with our costs included in inventory quiz.
In order to correctly establish the cost of inventory to be shown on the balance sheet of a business it is first necessary to understand and identify which costs are required to bring the inventory to its present location and condition ready for sale.
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If you need a refresher course on the use of the costs to be included in inventory, take a look at our tutorial on the subject and our basics of bookkeeping tutorials.
Start the Costs Included in Inventory Quiz
Identify whether each of the following costs are included or excluded from the cost of inventory.
For each question click on an answer to reveal whether its Right! or Wrong.
Try Another Double Entry Bookkeeping Quiz
This costs included in inventory quiz is one of many of our online quizzes which are used to test your knowledge of double entry bookkeeping, discover another at the links below.
- Quiz 52: Accounting Entries
- Quiz 21: Basics of Bookkeeping Quiz
- Quiz 20: Chart of Accounts Quiz
- Quiz 22: Debits and Credits in Accounting Quiz