ABSTRACT
Costing is the science of tracking expenditure in relation to products made, or services rendered. Present-day competition makes it essential both manufacturers and retailers should meet competitors' prices with their eyes open. The analysis of selling expenses is by no means a simple matter. A great many factors of unknown value and varying power have to be considered. The aim of "Scientific Costing in relation to Selling" should be to obtain percentages of the true cost of handling merchandise at each stage from manufacturer to consumer. Obviously, such percentages should be on the total merchandise actually handled. No less an authority than John Stuart Mill, as long ago as 1848, was careful to point out that although there was a decided tendency for prices to be strictly relative to the cost of production, pendulum swung both ways, so that at times the public paid for a large profit, and at other times the manufacturer or retailer suffered a considerable loss.
