Question: We don't need a product costing system. We are a small manufacturer with a just-in-time approach so that our inventories are minimal. We have

"We don't need a product costing system. We are a small manufacturer with a just-in-time approach so that our inventories are minimal. We have no influence over product price; whatever the big fellows do, we follow. Anyway, our accountant only comes in on Fridays and she is already far too busy to bother with a product costing system".

Is this a reasonable attitude?Explain why.

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