Which of the following statements is true of the flow of product and period costs for a manufacturer? Select one: A. Period costs remain in inventory accounts on the balance sheet until the product is sold. 0 O B. All product costs that have been paid are expensed and reported on the income statement at the end of the accounting period. C. The cost of the finished goods that the manufacturer sells becomes its Cost of Goods Sold on the balance sheet. D. When the manufacturing process is completed, the costs are transferred to the Finished Goods Inventory account. O O E. None of the above. Which of the following describes the cost of goods manufactured? Select one: O A. the total cost of all raw materials, factory labor and manufacturing overhead incurred during the period to complete all goods that were completed during that period B. the total cost of raw materials, factory labor and manufacturing overhead spend of production during that period C. the total cost of the goods that were sold during the period D. the total costs of inventory on the balance sheet at the end of the period O E. None of the above