Match the items below by entering the appropriate code letter in the space provided. - Homeworkbuy

Match the items below by entering the appropriate code letter in the space provided.

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July 5, 2020 0 Comment

226. Match the items below by
entering the appropriate code letter in the space provided.

A. Merchandise Inventory F. First-in,
first-out (FIFO) method
B. Work in process G. Last-in, first-out (LIFO) method
C. FOB shipping point H. Average-cost
method
D. FOB destination I. Inventory turnover
E. Specific identification method J. Current replacement cost

____ 1. Measures
the number of times the inventory sold during the period.
____ 2. Tracks
the actual physical flow for each inventory item available for sale.
____ 3. Goods
that are only partially completed in a manufacturing company.
____ 4. Cost
of goods sold consists of the most recent inventory purchases.
____ 5. Goods
ready for sale to customers by retailers and wholesalers.
____ 6. Title
to the goods transfers when the public carrier accepts the goods from the
seller.
____ 7. Ending
inventory valuation consists of the most recent inventory purchases.
____ 8. The
same unit cost is used to value ending inventory and cost of goods sold.
____ 9. Title
to goods transfers when the goods are delivered to the buyer.
____ 10. The
amount that would be paid at the present time to acquire an identical item.226. Match the items below by
entering the appropriate code letter in the space provided. A. Merchandise Inventory F. First-in,
first-out (FIFO) method B. Work in process G. Last-in, first-out (LIFO) method C. FOB shipping point H. Average-cost
method D. FOB destination I. Inventory turnover E. Specific identification method J. Current replacement cost____ 1. Measures
the number of times the inventory sold during the period.____ 2. Tracks
the actual physical flow for each inventory item available for sale.____ 3. Goods
that are only partially completed in a manufacturing company.____ 4. Cost
of goods sold consists of the most recent inventory purchases.____ 5. Goods
ready for sale to customers by retailers and wholesalers.____ 6. Title
to the goods transfers when the public carrier accepts the goods from the
seller.____ 7. Ending
inventory valuation consists of the most recent inventory purchases.____ 8. The
same unit cost is used to value ending inventory and cost of goods sold.____ 9. Title
to goods transfers when the goods are delivered to the buyer.____ 10. The
amount that would be paid at the present time to acquire an identical item.