Question 2 2 pts Which of the following statements is true? O A. For financial reporting purposes, merchandising firms expense the cost of items when they purchase them B. Product costs always appear "below the line" for gross margin C. The terms cost of goods sold and costs of goods manufactured are used interchangeably D. As with service firms, period costs appear below the line for gross margin E. Product costs are often referred to as inventoriable costs because these are the costs that firms attach to inventories of work in process and finished goods. Both D &E are correct