Q319
In income statement of merchandising costs, period cost includes all costs which are not related to
A.
cost of resale goods
B.
cost of manufacturing goods
C.
timed resale of goods
D.
cost of purchased goods
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
In income statement of merchandising costs, period cost includes all costs which are not related to cost of purchased goods. The cost of goods purchased is the net cost of merchandise acquired.