true or false

Signify "True" or "False" as applicable for each of the following items as they pertain to differences between cost accounting and financial accounting. Cost accounting reported information tends to focus on longer time periods than financial accounting reported information. Cost accounting reported information tends to focus on detailed reporting levels whereas financial accounting reported information tends to look at the business at a top level summary. Reported information for BOTH cost accounting and financial accounting must follow GAAP at all times. Primary users of cost accounting reported information would include investors and creditors. Direct materials are the only inventory items that should be classified as current assets. Just-in-time (JIT) inventory systems can be used only by manufacturers. Merchandisers cannot use JIT systems