Word Scramble for...Inventory and Cost of Goods Sold
NOTE: To see each answer, place your cursor in the middle of the cell under "Unscrambled Answer".
If you have any difficulty answering the questions, learn more about this topic by reading our mini-lectures covering introductory of Inventory and Cost of Goods Sold.
| Word Clue | Answer |
Unscrambled Answer | |
| 1. | Inventory is reported as a _________ asset. | RNREUCT | CURRENT |
| 2. | Inventory is often reported at the _______ of cost or market. | WRELO | LOWER |
| 3. | FIFO and LIFO are examples of cost flow ________________. | APINSMOTSUS | ASSUMPTIONS |
| 4. | Under this inventory system the balance in the Inventory account changes with each sale. | LEAPUETRP | PERPETUAL |
| 5. | Under this inventory system the balance in the Inventory account does not change with each sale. | RECIOPID | PERIODIC |
| 6. | A ___________ will report raw materials, work-in-process, and finished goods inventory. | FNCREMTARAUU | MANUFACTURER |
| 7. | The freight cost on inventory items that are purchased FOB __________ point will be an inventoriable cost. | HIGNPSPI | SHIPPING |
| 8. | There will be no freight-in on goods purchased FOB _______________. | OSIATDNNETI | DESTINATION |
| 9. | The annual cost of goods sold divided by the average inventory balances is the inventory ______________ ratio. | EVNUROTR | TURNOVER |
| 10. | The normal selling price minus the estimated cost to complete and sell is the net ___________ value. | ZBEIARLELA | REALIZABLE |
If you have any difficulty answering the questions, learn more about this topic by reading our mini-lectures covering introductory of Inventory and Cost of Goods Sold.
