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What is JIT vs. Traditional Costing Differences about?

JIT costing differs from traditional costing in that it does not track production costs as materials move through the manufacturing process, but rather records costs when units are completed. It also combines raw materials and work-in-process inventory into a single account called raw and in-process inventory, whereas traditional costing separates these stages into different inventory accounts.

Author

Pee Cee

Language

EN