Final answer:
The statement is true as a write-down of inventory to market affects the balance sheet and increases expenses but does not impact the cost of goods sold until the inventory is actually sold.
Step-by-step explanation:
The statement, "Cost of goods sold may include the write-down of inventory to market even though the goods haven't been sold," is true. In accounting, a write-down occurs when the market value of the inventory falls below the cost at which it is currently valued on the books. This situation necessitates an adjustment to the value of inventory on the balance sheet. However, it does not affect the cost of goods sold (COGS) figure on the income statement until the inventory is actually sold. COGS reflects the direct costs attributable to the production of the goods sold by a company and is recognized once the goods are sold to customers. The write-down affects the balance sheet by reducing the value of inventory and increasing expenses, potentially in the form of an inventory impairment charge, but it does not impact COGS until the sale takes place.