Rashid Corporation purchased chemicals for use in the manufacturing of a cleaning solvent. After manufacture, the cleaning solvent was sold to customers. Where does the cost of the chemicals 3^ppga^r in the finsncisl statements?

a. On the statement of financial position as inventories b On the statement of comprehensive income as cost of goods sold

c. On the statement of comprehensive income as a sales expense

d. On the statement of financial position as an asset LO1.