The two basic types of cost accounting systems are: job order and process costing job order and customized product costing process costing and perpetual costing perpetual costing and periodic costing

Hubert manages a grocery store in a country experiencing a high rate of inflation. to keep up with inflation, he spends a lot of time every day updating the prices, printing new price tags, and sending out newspaper inserts advertising the new prices. his employees regularly deal with customer annoyance over the frequent price changes. this is an example of the of inflation.