-Referring to Table 14

question 8

Multiple Choice

-Referring to Table 14.3, what is the protolith for schist?

• A)limestone or chalk
• B)sandstone
• C)shale or mudstone
• D)slate

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Definitions:

First-In, First-Out

A method of valuing inventory that presumes items are sold in their purchase sequence, first selling the oldest products.

Purchase Order

An official document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services.

Approved Vendor

A supplier who has been vetted and meets a company's criteria for quality, reliability, and price.

Gross Profit Method

A method of estimating inventory cost that is based on the relationship of gross profit to sales.