Under GAAP, only ________ can be assigned to inventories in the financial statements.
A) manufacturing costs
B) period costs
C) cost of goods sold
D) historical costs

Question

Quizplus · Accepted Answer

Under GAAP, only manufacturing costs, which include direct materials, direct labor, and manufacturing overhead, can be assigned to inventories in the financial statements.

Under GAAP, Only ________ Can Be Assigned to Inventories in the Financial