Business

Product Costing Calculation: What Is Product Costing?

Written by MasterClass

Last updated: Jan 27, 2023 • 4 min read

Accountants and business owners use product costing to determine both individual product costs and the cost of goods sold in the aggregate. When you keep track of costs in this way, you have a better chance of maximizing revenue and finding ways to cut back on expenditures. Learn more about the benefits of using a product costing system.