Inventoriable costs may be thought of as a pool of costs consisting of which two elements?

A) The cost of beginning inventory and the cost of ending inventory
B) The cost of ending inventory and the cost of goods purchased during the year
C) The cost of beginning inventory and the cost of goods purchased during the year
D) The difference between the costs of goods purchased and the cost of goods sold during the year

Inventoriable Costs

Costs that are considered as assets on the balance sheet until the related goods are sold, at which point these costs are transferred to the cost of goods sold on the income statement.

Cost of Goods Purchased

The total expenses incurred to acquire inventory that is intended for resale.

Beginning Inventory

The value of a company's inventory at the start of an accounting period, serving as a basis for calculating cost of goods sold.