Match the Definition to Each Term

question 9

Multiple Choice

Match the definition to each term.
-Dermoid cyst (teratoma)

• A)The most common benign tumor of the breast
• B)The most common type of germ cell tumor
• C)A benign,smooth muscle tumor of the uterus
• D)A malignancy following a faulty fertilization

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor involved.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated as the beginning inventory plus purchases minus the cost of goods sold.

Beginning Inventory

The value of all products, goods, and materials in stock at the start of an accounting period.

LIFO

"Last In, First Out," an inventory valuation method where the latest items added to the inventory are the first to be sold.