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Which of the following statements about product costs is NOT true? a. Product costs...

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Accounting

Which of the following statements about product costs is NOT true?
a. Product costs differ from manufacturing costs because the latter does not include
direct labor.
b. Product costs allow production cost to be stored in inventories.
c. Product costs permit matching cost with the revenues they help produce.
d. Product costs are the basis for costs reported in financial statements.

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