Accounting for IGCSE & O level - Final Statements (Section 8 - No. 18)

What does the term 'carriage inwards' refer to?

Costs incurred to deliver goods to customers.

Costs incurred to transport goods purchased by the company.

Costs for the company's own vehicles used in transportation.

Costs related to returns of goods sold.

Carriage inwards represents the costs associated with bringing goods purchased by the business to the company's premises.