Choose the Appropriate Letter to Match the Term and the Definition.There

Essay

Choose the appropriate letter to match the term and the definition.There are more definitions than terms.
Term
1.____ Inventory
2.____ Purchase Discount
3.____ Purchase Returns and Allowances
4.____ Sales Discount
5.____ Sales Returns & Allowances
6.____ Shrinkage
Definition
A.The sum of beginning inventory and purchases for the period.
B.The cost of inventory lost to theft,fraud,and error.
C.A reduction in the cost of inventory purchases associated with unsatisfactory goods.
D.A cash discount received for prompt payment of a purchase on account.
E.Refunds and price reductions given to customers after goods have been sold and found unsatisfactory.
F.Assets acquired for resale to customers.
G.A sales price reduction given to customers for prompt payment of their account balance.
H.Presents important subtotals,such as gross profit,to help distinguish core operating results from other,less significant items that affect net income.
I.Net sales minus cost of goods sold.It is a subtotal,not an account.
J.A ratio indicating the percentage of profit earned on each dollar of sales,after considering the cost of products sold.