The term full cost refers to the cost of manufacturing and selling a unit of product and includes both fixed and vartable costs True or False True False Cost of goods sold includes the actual costs of the goods sold and the costs required to sell them to the customer. True or False True False Cost accounting information developed for managers to use in making decisions must comply with generally accepted accounting principles (GAAP) and international financial reporting standards (IFRS). True or False True False The value chain is comprised of the activities that take place only during the production process. True or False True False