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Question: a manager says quotaccording to aasb 102 inventories product costs...

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A manager says "According to AASB 102 inventories, product costs used for inventory valuation or cost reimbursement need to be based on current costs, which are objective & verifiable. Therefore, product costs are not useful for & relevant to our decision making process for the future operational plan. Especially our business is small. We don't need to implement a comprehensive product costing system. Agree or disagree with explanations in detail.

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