Businesses incur various costs in selling goods and services. Each business must decide which costs are expenses of the period and which should be included in the cost of the inventory. The following...

Businesses incur various costs in selling goods and services. Each business must decide which costs are expenses of the period and which should be included in the cost of the inventory. The following table lists various types of businesses along with certain types of costs they incur:

Required

Fill in the table to indicate the correct accounting for each type of cost by placing an X in the appropriate column. For any costs that receive other treatment, explain what the appropriate treatment is for accounting purposes.