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2. What costs should be considered in determining

2. What costs should be considered in determining the sales price of a product?2. What is a just-in-time (JIT) inventory system? Name some inventory costs that can be eliminated or reduced by its use.3. What are the two dimensions of a total quality management (TQM) program? Why is TQM being used in business practice?4. What does the term reengineering mean? Name some reengineering practices.

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