is a false statement.
A) That product costs show up on the income statement in cost of goods sold
B) That product costs are automatically deducted as expenses during the current period
C) That product costs are inventoriable costs
D) That product costs become expenses when the inventory is sold

Question

Quizplus · Accepted Answer

Product costs are not automatically deducted as expenses during the current period; they are capitalized as inventory and expensed as cost of goods sold when the inventory is sold.

Is a False Statement