To see each answer, press or click on the blue "Unscramble" button. If you have difficulty answering the following questions, learn more about this topic by reading our Inventory and Cost of Goods Sold (Explanation).
2. Inventory is often reported at the _______ of cost or net realizable value.
LOWER RLWEO4. Under this inventory system the balance in the Inventory account changes with each sale.
PERPETUAL PELERPTAU5. Under this inventory system the balance in the Inventory account does not change with each sale.
PERIODIC IPEIORCD6. A ___________ will report raw materials, work-in-process, and finished goods inventory.
MANUFACTURER CUEUNMTRAAFR7. The freight cost on inventory items that are purchased FOB __________ point will be an inventoriable cost.
SHIPPING IIPHPNSG8. There will be no freight-in on goods purchased FOB _______________.
DESTINATION NITDAOENTSI9. The annual cost of goods sold divided by the average inventory balances is the inventory ______________ ratio.
TURNOVER TVOERNRU10. The expected selling price in the ordinary course of business minus the estimated costs of completion, disposal, and transportation is the net ___________ value.
REALIZABLE BIAZLEERAL
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