CERTYNEX IFRS ACADEMY

Belvoir imports spare parts held for resale. Which of the following amounts forms part of the costs of purchase of these inventories?

Import VAT, which Belvoir subsequently recovers from the tax authorities.

Customs duties, which are not recoverable.

The supplier's list price, before the trade discount granted on the invoice.

The commission paid to an agent in charge of reselling the parts to garages.