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What are the major differences between managerial accounting and financial accounting? Distinguish between prime costs and conversion costs. What is the difference between a product
What are the major differences between managerial accounting and financial accounting? Distinguish between prime costs and conversion costs. What is the difference between a product cost and a period cost? Name the three inventory accounts for a manufacturing business, and describe what each balance represents at the end of an accounting period. What are the three categories of manufacturing costs included in the cost of finished goods and the cost of work in process
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