8. Which of the following is NOT included as the cost of inventory? Select one:

a. The purchase price of inventory paid by a business to its suppliers.

b. Direct labor costs in the case of manufacturing inventory.

c. Cost of insurance paid by the seller to protect the merchandise purchased from its suppliers.

d. Freight cost paid by the seller for merchandise sold to a customer.

10. Which of the following accounts would be unnecessary in a company that uses a perpetual inventory system? Select one: a. cost of goods sold b. returns on purchase c. freight for sale d. sale discount