When a sale of merchandise occursA. Finished Goods Inventory on the balance sheet becomes a product cost on the income statementB. Finished Goods Inventory on the balance sheet becomes a period cost on the income statementC. Cost of Goods Sold on the balance sheet becomes a product cost on the income statementD. Work-in-Process Inventory on the balance sheet becomes a period cost on the income statement

June 20, 2017 mfadmin Managerial Accounting

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When a sale of merchandise occursA. Finished Goods Inventory on the balance sheet becomes a product cost on the income statementB. Finished Goods Inventory on the balance sheet becomes a period cost on the income statementC. Cost of Goods Sold on the balance sheet becomes a product cost on the income statementD. Work-in-Process Inventory on the balance sheet becomes a period cost on the income statement

A. Finished Goods Inventory on the balance sheet becomes a product cost on the income statement