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Which of statements regarding product costs is not correct

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Reference no: EM133011682

Problem 1: Which of the following statements regarding product costs is not correct?

a. Product costs are costs that are not period costs.

b. Product costs are costs that are incurred in manufacturing.

c. Product costs do not appear in the balance sheet.

d. Cost of goods sold in income statement represents product costs of goods that were sold during the period.

Reference no: EM133011682

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