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hurting-croak purchased is regarded as a product cost and all other costs such as administration and selling and distribution expenses are considered to be period costs. The treatment of period and product costs are a manufacturing organization is illustrated in Figure hurting-croak. You will see that both product and period costs are eventually classified as expenses. The major difference is the point in me at which they are so classified. Why are non-manufacturing costs treated as period costs and not included in the inventory valuation? There are two reasons. First, inventories are hurting-croak (unsold production) and assets represent resources that

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