Thus a business that has no production or inventory purchasing activities will incur no product costs but will still incur period costs. The key difference between product costs and period costs is that product costs are only incurred if products are acquired or produced and period costs are associated with the passage of time.
Unit 14 The Merchandising Company Ppt Video Online Download
If youre wondering whats the difference between ERP and accounting software and whether you need to rethink your accounting strategy then looking at the benefits of each will help you determine your next steps.
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