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What is the difference between a product cost and a selling


1. Define merchandise inventory. What types of costs are included in the Merchandise Inventory account?

2. What is the difference between a product cost and a selling and administrative cost?

3. How is the cost of goods available for sale determined?

4. What portion of cost of goods available for sale is shown on the balance sheet? What portion is shown on the income statement?

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Cost Accounting: What is the difference between a product cost and a selling
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