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Accounting Chapter 6
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A form used during a periodic inventory to record information about each item of merchandise on hand
inventory record
the person or business who gives goods on consignment
consignor
the period of time needed to sell an average amound of merchandise inventory
average number of days' sales in merchandise inventory
a form used to show the kind of merchandise, quantity received, quantity sold, and balance on hand
stock record
a file of stock records for all merchandise on hand
stock ledger
using the price of merchandise purchased first to calculate the cost of merchandise sold first
first-in first-out inventory costing method
using the price of perchandise purchased first to calculate the cost of marchandise sold first
last-in, first-out inventory costing method
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
using the ower cost or market price to calculate the cost of ending merchandise inventory
loswer of cost or market inveltory costing methodĀ
estimating inventory by using a percentage based on both cost and retail price
retail method of estimated inventory
the number of times the average amount of merchandise inventory is sold during a specific period of time
merchandise inventory
goods which are given to a business to sell, but for which title to the goods remains with the vendor
consignment
a completed form authorizing a seller to deliver goods with payment to be made later
purchase order
the persoin or business who reveives goods on consignment
consingee
Author
kaylacody17
ID
184641
Card Set
Accounting Chapter 6
Description
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Updated
2012-11-27T15:57:09Z
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