2. Identify the true statement. a.Transportation-out is a product cost. b. Sales

Question

2. Identify the true statement.

a.Transportation-out is a product cost.

b. Sales allowances increase net income.

FOB shipping point designates the seller as the party responsible for freight costs.

d. Purchase discounts decrease book value of inventory under the perpetual inventory method.

a.Transportation-out is a product cost.

b. Sales allowances increase net income.

FOB shipping point designates the seller as the party responsible for freight costs.

d. Purchase discounts decrease book value of inventory under the perpetual inventory method.

Explanation / Answer

d. Purchase discounts decrease book value of inventory under the perpetual inventory method.

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