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Classifying CostsIdentify which of the following t

Classifying CostsIdentify which of the following transactions and events are product costs and which are period costs: Storage and material handling costs for raw materials. Gains or losses on the disposal of factory equipment. Lubricants for machinery and equipment used in production. Depreciation of a factory building. Depreciation of manufacturing equipment. Depreciation of the company president’s automobile. Leasehold costs for land on which factory buildings stand. Inspection costs of finished goods. Direct labor cost. Raw-materials cost. Advertising expenses.

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