Norton Corp. buys rolls of raw plastic which are molded into inexpensive plastic cups, packaged, and taken to the finished goods warehouse until sold. When should Norton expense the cost of the plastic? In the period in which the plastic was purchased In the period in which the cups are sold In the period in which the plastic is placed into production In the period in which production of the cups is completed The timing of the expense varies depending on whether Norton originally paid cash or purchased the plastic on account