Identifying product and period costs Required Indicate whether each of the following costs is a product cost or a period (selling and administrative) cost: a. Goods purchased for resale. b. Salaries of salespersons. c. Advertising costs. d. Transportation-out. e. Interest on a note payable. f. Salary of the company president. g. Transportation-in. h. Insurance on the office building. i. Office supplies. j. Costs incurred to improve the quality of goods available for sale