During the year, FIZZ rolled out a new product - Cherry Blossom flavored sparkling water. As part of the new product introduction, FIZZ gave samples of the product from their inventory to customers at no charge. The cost of the inventory used as product samples was $5,000. This cost is considered part of marketing expense on the income statement.

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Given the scenario provided where FIZZ gave samples of Cherry Blossom flavored spark... View the full answer