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In like manner, a finished goods inventory will also have an inventoriable cost. This will include not only all the costs related to the raw materials, but also the direct labor and any fixed or variable overhead that is incurred while producing those finished goods. If those goods are stored at a rented facility, even the cost of the rental will be accounted for as an inventoriable cost.
absorption costing if inventories increase then some of the fixed manufacturing costs of the current. period will not appear on the income statement as part of cost of goods sold. Instead, these costs are. deferred to a future period and are carried on the balance sheet as part of the inventory account.