which elements of the value chain should be included in calculating product costs and why?

To answer this, you must first understand the meaning of product costs, and how this term differs from other types of costs (e.g., period costs).Then you can proceed to place the individual elements of the value chain (e.g., research, product design, production, etc.) either inside or outside the category of product costs.Second, you were asked toidentify where other costs, such as period costs, would be reported (if at all).

Please reconsider both of these questions.