$$\text { Match each of the following terms } ( a - h ) \text { with the correct definition below. }$$

Short Answer

$$\text { Match each of the following terms } ( a - h ) \text { with the correct definition below. }$$
-Inventory system that updates the merchandise inventory account only at the end of the accounting period based on a physical count of merchandise on hand.
a. Credit terms
b. FOB destination
c. FOB shipping point
d. Periodic inventory system
e. Perpetual inventory system
f. Inventory shrinkage
g. Single-step income statement
h. Multiple-step income statement