Three possible product cost definitions were introduced: value-chain, operating, and traditional. Identify which of the three best fits the following situations (Gustify your choice):

a. Setting the price for a new product.

b. Valuation of finished goods inventories for external reporting. lop25

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c. Choosing among different products in order to maintain a product mix that will provide the company with a long-term sustainable competitive advantage. d. Choosing among competing product designs. e. Calculating cost of goods sold for external reporting. f. Deciding whether to increase the price of an existing product. g. Deciding whether to accept or reject a special order, where the price offered is lower than the normal selling price. h. Determining which of several potential new products should be developed, pro- duced, and sold.