Accounting Chapter 6

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  1. A form used during a periodic inventory to record information about each item of merchandise on hand
    inventory record
  2. the person or business who gives goods on consignment
  3. the period of time needed to sell an average amound of merchandise inventory
    average number of days' sales in merchandise inventory
  4. a form used to show the kind of merchandise, quantity received, quantity sold, and balance on hand
    stock record
  5. a file of stock records for all merchandise on hand
    stock ledger
  6. using the price of merchandise purchased first to calculate the cost of merchandise sold first
    first-in first-out inventory costing method
  7. using the price of perchandise purchased first to calculate the cost of marchandise sold first
    last-in, first-out inventory costing method
  8. using the average cost of beginning inventory okus merchandise purchased during a fiscal period to calculate the cost of merchandise soldĀ 
    weighted-everage inventory costing method
  9. using the ower cost or market price to calculate the cost of ending merchandise inventory
    loswer of cost or market inveltory costing methodĀ 
  10. estimating inventory by using a percentage based on both cost and retail price
    retail method of estimated inventory
  11. the number of times the average amount of merchandise inventory is sold during a specific period of time
    merchandise inventory
  12. goods which are given to a business to sell, but for which title to the goods remains with the vendor
  13. a completed form authorizing a seller to deliver goods with payment to be made later
    purchase order
  14. the persoin or business who reveives goods on consignment
Card Set:
Accounting Chapter 6
2012-11-27 15:57:09

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