For inventoriable costs to become expenses under the matching principle, which of following needs to happen?
For inventoriable costs to be recognized as expenses under the matching principle, which of the following conditions must be met? 1) The product must be finished and in stock. 2) The product must be expensed based on its percentage of completion. 3) The product to which the costs are attached must be sold. 4) All accounts payable related to the product must be settled.
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