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I’m a little confused on REG here. In Becker Ch.1 they explain costs that are required to be capitalized as “direct materials, direct labor, and applicable indirect costs” which of course makes sense and gives me unfortunate flashbacks to BEC. However, in Ch.3 for basis and holding of assets they say “general rule is that all tangible property that is not inventory must be capitalized”. Well isn’t DM,DL,FOH what make up inventory and is capitalized? so is that not contradicting or am I missing something
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