Match the Terms with the Definitions

question 78

Multiple Choice

Match the terms with the definitions.
-A variation of the gross profit method that is used by many retail businesses, to estimate the cost of goods sold and ending inventory.

• A)average cost
• B)weighted-average method
• C)consignee
• D)consigned goods
• E)specific identification method
• F)retail method
• G)cost
• H)physical inventory
• I)periodic inventory system
• J)in transit
• K)inventory sheet
• L)natural business year
• M)lower-of-cost-or-market method