186. _____ Inventory costing method that assumes both cost of goods sold and ending inventory consist of a random mixture of all the goods available for sale. 06_183 187. _____ LIFO must be...

186. _____ Inventory costing method that assumes both cost of goods sold and ending inventory consist of a random mixture of all the goods available for sale.

06_183

187. _____ LIFO must be used for financial reporting if elected for taxes.

06_183

188. _____ Cost of freight not included in inventory.

06_183

Reference: 06_188

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

Terms:

a. FOB shipping point

b. FOB destination

c. Periodic inventory system

d. Perpetual inventory system