Select the correct statement.

a.

Inventoriable costs are all costs of a product that are considered assets in a companys balance sheet when the costs are incurred and that are expensed only when the product is written-off or impaired.

b.

None of these statements are correct.

c.

Inventoriable costs are all costs of a product that are considered assets in a companys income statement when the costs are incurred and that become cost of goods sold when the product is sold.

d.

Period costs are all costs of a product that are considered assets in a companys balance sheet when the costs are incurred and that are expensed only when the product is sold.