31.Lolo Inc. incurred the following costs during the year ended December 31, 2021: Laboratory research...
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31.Lolo Inc. incurred the following costs during the year ended December 31, 2021: Laboratory research aimed at discovery of new knowledge $270,000 Costs of testing prototype and design modifications 80,000 Quality control during commercial production, including routine testing of products 270,000 Construction of research facilities having an estimated useful life of 6 years but no alternative future use 360,000 The total amount to be classified and expensed as research and development in 2021 is
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