Question: Mr . Suncat is little confused about the difference between a product cost and a period cost and what is included in a product cost.

Mr. Suncat is little confused about the difference between a product cost and a period cost and what is included in a product cost.
a. Define product cost and give two examples of a product cost.
b. Define period cost and give two examples of a period cost.
c. List and define the three costs that are included in determining a product cost.

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