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Which of the following statements is true regarding product (inventoriable) costs and period costs?A) Insurance on the factory is a period costB) The salary of the CEO of the company is a product costC) Property taxes on the factory is a product costD) The cost of labor in the factory is a period cost
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- Company A delivered inventory to Company B on January 6th. Company B paid Company A for the inventory on January 20th. Company B sold all of the inventory to Customer on February 3rd. Customer paid Company B for the inventory on February 9th. On which day did Company B record an expense on its Income Statement for this inventory?A) January 6B) January 20C) February 3D) February 9
- inventory at start of year/ daily cost of goods sold
- Invest consistently over time so that compound interest creates