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The two basic types of cost accounting systems are: A. Job order costing and perpetual costing. B. Job order costing and customized product costing. C. Job order costing and customized service costing. D. Job order costing and process costing. E. Job order costing and periodic costing.
4 [Costing Vs.] | Traditional Costing Vs. Small business accountants can use one of four distinct inventory costing methods to account for the cost of goods sold. Different inventory costing methods are best suited to different situations and financial goals, and no single method is inherently better than any other. Small business owners should understand the different types of inventory costing methods and the advantages of each to select the best method for their accounting system.