The only purpose of cost information is to determine the individual product cost on a per unit basis in order to value inventory.

Name: The only purpose of cost information is to determine the individual product cost on a per unit basis in order to value inventory.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

While determining individual product cost on a per unit basis is a key part of product costing, cost information also serves other purposes such as determining pricing, analyzing profitability, and informing decision-making.

The Only Purpose of Cost Information Is to Determine the Individual