Product costs are _ during the production process and later expensed as Cost of Goods Sold. Which of the following manufacturing inventories appears both on the manufacturer's Income Statement and Balance Sheet? Direct Materials Inventory Direct Materials used Finished Goods Inventory Raw Materials purchases If a manufacturer's Cost of Goods Sold is $7,500 and beginning and ending Finished Goods Inventory are $6,000 and $3,200, respectively, $4,700 is necessary to balance the Finished Goods Inventory T-account. The $4,700 represents the