Product costs are inventoried and treated as assets until:
A) the next accounting period.
B) related liabilities no longer exist.
C) the period in which the products they relate to are sold.
D) none of these.

Question

Quizplus · Accepted Answer

Product costs are capitalized as inventory and recognized as expenses in the period when the related products are sold, matching revenues with expenses.

Product Costs Are Inventoried and Treated as Assets Until