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Cost Terms and Classifications

?

Product costs appear on the balance sheet

only if goods are partially completed at the end of the period.
only if goods are unsold at the end of a period.
only if goods are partially completed, are unsold at the end of a period, or both.
only in merchandising firms.

Correct - Your answer is correct.

Wrong - Your answer is wrong.

Detailed Answer

Correct answer: (C)

only if goods are partially completed, are unsold at the end of a period, or both.

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