Product costs are initially recorded as on the on the but eventually end up in when the products are sold. COGS, Balance Sheet, Inventory, Income Statement inventory, Balance Sheet, COGS, Income Statement COGS, Income Statement, Inventory, Balance Sheet Inventory, Income Statement, COGS, Balance Sheet Anderson Corp. acquired a machine on January 1, 2020. The following information relates to the purchase: Cost 24,000 4 years Useful Life Residual Value 3,000 Anderson uses the straight-line depreciation method. Anderson sold the machine on July 1, 2021 for $18,000. The journal entry to record the sale would include a: On January 1, 2020, Anderson purchased computer equipment. The following are details from the purchase Cost $16.000 Residual Value $2,000 Useful Life 5 years Anderson uses the double-declining depreciation method. What will the book value of the equipment be at the end of the year 2020? If a company's target profit increases and no costs change, which of the following will be true? Units required to reach the target profit will increase Contribution Margin Ratio will decrease Contribution Margin Ratio will increase Units required to reach the target profit will decrease