See Also: Product Pricing Strategies Product Costs vs Period Costs In accounting, all costs incurred by a company can be categorized as either product costs or period costs. The two types of costs are recorded differently. Product costs are applied to the products the company produces and sells. Product costs refer to all costs incurred
See also: Just in Time Inventory System Perpetual Inventory System Inventory Turnover Ratio Analysis Days Inventory Outstanding LIFO vs FIFO Inventoriable Costs In accounting, inventoriable costs refer to all costs incurred to obtain or produce the end-products. Apply these costs to the products the company produces and sells. The cost of raw materials, direct labor,
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