Match the Terms with the Definitions

question 81

Multiple Choice

Match the terms with the definitions.
-A method of estimating inventory in which a business's normal gross profit percentage is used to estimate the cost of goods sold and ending inventory.

• A)average cost
• B)conservatism
• C)perpetual inventory system
• D)market value
• E)consignor
• F)consistency
• G)cost
• H)first-in, first-out method
• I)gross profit method
• J)last-in, first-out method
• K)inventory sheet

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Definitions:

Single Event

An occurrence that takes place at a specific time and location, without repetition.

Persuasive Messages

Communications designed to influence the attitudes, beliefs, or actions of others.

Logical Factors

Elements or considerations that are based on clear, sound reasoning or the formal laws of logic.

Emotional Factors

Elements that influence feelings, mood, and emotional states, affecting behavior and decision-making.