When are product costs converted from cost to expense?
A)when units are completed
B)when materials are purchased
C)when units are sold
D)when materials are requisitioned

Name: When are product costs converted from cost to expense? A)when units are completed B)when materials are purchased C)when units are sold D)when materials are requisitioned
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Product costs are converted from cost to expense when units are sold. Until that point, they are still considered assets on the balance sheet.

When Are Product Costs Converted from Cost to Expense