Manufacturing costs are first recorded as an asset on the balance sheet and then expensed on the income statement at the time they are

Name: Manufacturing costs are first recorded as an asset on the balance sheet and then expensed on the income statement at the time they are
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Question

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Manufacturing costs are initially recorded as inventory (an asset) on the balance sheet. They are expensed as cost of goods sold on the income statement when the goods are sold.

Manufacturing Costs Are First Recorded as an Asset on the Balance