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c. Either 1 or 2 will result in the same net income.
d. Cannot be determined from the information provided.
58. When using the periodic inventory system, which of the
following generally would not be separately accounted for in the
computation of cost of goods sold?
a. Trade discounts applicable to purchases during the period
b. Cash (purchase) discounts taken during the period
c. Purchase returns and allowances of merchandise during the
period
d. Cost of transportation-in for merchandise purchased during the
period
S59. Costs which are inventoriable include all of the following
except
a. costs that are directly connected with the bringing of goods to the
place of business of the buyer.
b. costs that are directly connected with the converting of goods to a
salable condition.
c. buying costs of a purchasing department.
d. selling costs of a sales department.