________ costs are all costs of a product that are considered as assets in the balance sheet when they are incurred and that become cost of goods sold only when the product is sold.
A)Direct
B)Indirect
C)Variable
D)Inventoriable

Question

Quizplus · Accepted Answer

Inventoriable costs are also known as product costs because they are associated with creating and holding inventory. These costs become cost of goods sold only when the product is sold. Examples of inventoriable costs include direct materials, direct labor, and manufacturing overhead.

________ Costs Are All Costs of a Product That Are