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Match the Following Chapter Terms with Their Definition

Question 20

Matching

Match the following chapter terms with their definition.

Premises:
Monetary value of food on hand at beginning of the month, plus the purchases for the month, minus the monetary value of food in the final inventory
Responses:
final inventory
cost of food sold
inventory
perpetual inventory
physical inventory

Correct Answer:

final inventory
cost of food sold
inventory
perpetual inventory
physical inventory
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