Question: Classify inventoriable and period costs (Learning Objective 4) Classify each of Georgia-Pacifics costs as either inventoriable product costs or period costs. Georgia-Pacific is a manufacturer

Classify inventoriable and period costs (Learning Objective 4)

Classify each of Georgia-Pacific’s costs as either inventoriable product costs or period costs. Georgia-Pacific is a manufacturer of paper, lumber, and building material products.

a. Depreciation on the gypsum board plant

b. Purchase of lumber to be cut into boards

c. Life insurance on CEO

d. Salaries of scientists studying ways to speed forest growth

e. Cost of new software to track inventory during production

f. Cost of electricity at one of Georgia-Pacific’s paper mills g. Salaries of Georgia-Pacific’s top executives h. Cost of chemical applied to lumber to inhibit mold from developing i. Cost of TV ads promoting environmental awareness

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