Multiple Choice Questions Chapter 4 Which of the following is considered a period cost? a. Transportation cost on goods received from suppliers. b. Advertising expense for the current month. c. Cost of merchandise purchased. d. None of the above is considered a period cost. 1. Product costs are matched against sales revenue A. In the period immediately following the purchase. B. in the period immediately following the sale. C. when the merchandise is sold. D. when the merchandise is purchased. The Cost of Goods Sold account is classified as: A. an expense. B. an asset. 2. 3. C. a contra asset. D. a liability