Under Generally Accepted Accounting Principles (GAAP),only ________ costs can be assigned to inventories in the financial statements.
A)period
B)direct
C)indirect
D)variable
E)manufacturing

Question

Quizplus · Accepted Answer

Under GAAP, only manufacturing costs, which include direct materials, direct labor, and manufacturing overhead (both variable and fixed), can be assigned to inventories.

Under Generally Accepted Accounting Principles (GAAP),only ________ Costs Can Be