Which of the following reflect$($s$)$ relative efficiency in operating a retail and wholesale organization?

Multiple choice question.

Gross margin

Purchases

Marketing and administrative costs

Cost of goods sold

period, product

product, period

prime, conversion

conversion, prime

Multiple choice question.

prime cost

operating profit

opportunity cost

cost of goods sold

Multiple select question.

They are costs that can be identified with units at relatively low cost.

They are period costs.

They are product costs.

They include manufacturing overhead.

Multiple choice question.

Marketing and administrative costs

Cost of goods sold

Purchases

Gross margin

Multiple select question.

Service companies provide customers with a tangible product.

Information technology represents the major cost for some service organizations.

All costs in a service organization are treated as marketing and administrative costs.

Labor is the most important single cost for many service organizations.