Which of the following costs are treated as product costs by a merchandising company, such as Walmart? Which costs are treated as period costs?

1. Cost of leasing the retail locations 2. Cost of managers’ and sales associates’ salaries 3. Cost of merchandise purchased for resale 4. Cost of designing and operating the company’s website 5. Cost of shipping merchandise to the store 6. Cost of providing free shipping to customers who buy product online 7. Cost of utilities used in running the retail locations 8. Cost of import duties paid on merchandise purchased from international suppliers 9. Depreciation on store shelving and shopping carts.