Mendez Company is considering a capital project that costs $28,000. The project will deliver the following cash flows Using the incremental approach, the payback period for the investment is: 1.60 years. 5 years. 2.5 years. 2 years. Closing out under applied overhead to cost of goods sold will: reduce work in process inventory increase cost of goods sold decrease cost of goods sold increase work in process inventory A retail hardware store would classify the depreciation on the shelving fixtures as a: period cost product cost variable cost direct cost