Product costs are
A)expensed on the income statement when incurred.
B)treated as an asset and depreciated.
C)inventoried until the units are sold.
D)considered current liabilities until paiD.Product costs are counted as part of the inventory until the product is sold.

Question

Quizplus · Accepted Answer

Product costs are inventoried until the units are sold. This means that they are treated as an asset until the product is sold, at which point they become cost of goods sold on the income statement.

Product Costs Are