16 (4 points) Listen Which of the following inventories results in recording an expense when its asset account is reduced in the accounting system? Raw materials Work in Process Finished Goods Inventory Both A and B Question 17 (4 points) Listen In financial accounting, the term period costs refers to all expired costs not related to the manufacturing function, and product costs refers to all costs incurred during the period related to the manufacturing function. True False Question 18 (4 points) Listen Which of the following is one of the three major components of product costs? Selling, general and administrative expenses Marketing costs related to specific products Research and development expenses O