I think there is no best costing method since it depends on where you want to use it and/or what results you want to get. However, the following paper might be helpful in this regard:
Cost-effectiveness analysis: can we reduce variability in costing methods?
T Adam, DB Evans… - International journal of …, 2003 - cambridge.org
Costing method is the way of determining the cost so determination of cost depends upon the situation for which cost is calculated say for example for industry involves in processing of raw materials process costing is best method.
As already noted by Dr. Ahmed M.Al - Baidhnani, there is no best cost system in absolute terms. The question which must be answered is: what is the most relevant cost system for the intended uses. The answer is not purely technical, it implies to consider both the structure of the Organization and its strategic ambitions.
If you want to deepen the question I invite you to consult the English version of my latest book, available on gate Research: Cost systems: a new approach
First you need to determine the level of development of the accounting system in relation to the size of the company. After that you can think about how to improve the cost system.
For example, activity based costing has evolved in two different directions. One easy access is -TDABC. The other is even more complex - the RCA system.
Not every company is able to apply every theoretical model we know.
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