TB MC Qu$.1-6($Static$)$ Which of the following statements...

Which of the following statements are true?

In a manufacturing company, all costs are period costs.

Selling and administrative expenses are period costs under generally accepted accounting principles.

The cost of shipping parts from a supplier is considered a period cost.

Multiple Choice

Only statement $1$ is true.

Only statement $2$ is true.

Statements $1$ and $3$ are true.

Statements $1$ and $2$ are true.