Question: T, F. Although variable costing may provide useful information for internal controls and pricing, it is not generally accepted inventory valuation system by IRS and

T, F. Although variable costing may provide useful information for internal controls and pricing, it is not generally accepted inventory valuation system by IRS and AICPA.

T, F. One of the disadvantages of Variable Costing method is that it ignores the principle of matching revenues with related costs.

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