177. _____ Companies that purchase inventories that are primarily in finished form for resale to customers. 06_173 178. _____ Cost of components that will become part of the finished product...

177. _____ Companies that purchase inventories that are primarily in finished form for resale to customers.

06_173

178. _____ Cost of components that will become part of the finished product but have not yet been used in production.

06_173

Reference: 06_178

Listed below are ten terms followed by a list of phrases that describe or characterize five of the terms. Match each phrase with the best term placing the letter designating the term in the space provided.

Terms:

a. Ending inventory

b. Freight-in

c. Cost of goods sold

d. LIFO conformity rule

e. LIFO

f. Freight-out

g. LIFO reserve

h. Specific identification

i. FIFO

j. Average cost

179. _____ Inventory costing method that matches each unit of inventory with its actual cost.

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