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The cost of goods sold: Select one: O a. includes all manufacturing costs incurred during the income statement period. O b. includes both the fixed and the variable costs of producing the items included in revenue. O c. includes period costs only. O d. is equal to the variable cost per unit multiplied by the number of units sold. e. is equal to the fixed costs of production for the time period.
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Answer #1

The cost of goods sold

answer (b) includes both fixed and variable costs of producing the items included in revenue. (THUMBS UP PLEASE)

The cost of goods sold is that part of total production costs which is sold. A firm may have produced 10000 units but if only 8000 units are sold then, cost of goods sold will be taken of only 800 units. so that's why "b" is correct option.

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