QUESTION 14 When are period costs counted as inventory? O Belore products are sold O Ater products are sold. After products are completed, but belore they are sold. Never QUESTION 15 Normanufacturing costs are generally classified into what two groups? O Conversion costs and prime costs. Dired materials and direct labor. O Marketing costs and administrative costs. O Dired labor and manufacturing overhead. QUESTION 16 Product costs are: expensed on the income statement when incurred. O treated as an asset and depreciated. O inventoried until the units are sold. O considered current liabilities until paid