Inventory and Cost of Goods Sold (Word Scramble)

To see each answer, press or click on the blue "Unscramble" button.

If you have difficulty answering the following questions, learn more about this topic by reading our Inventory and Cost of Goods Sold (Explanation) .

1. Inventory is reported as a _________ asset. CURRENT RNREUCT Unscramble
2. Inventory is often reported at the _______ of cost or net realizable value. LOWER WRELO Unscramble
3. FIFO and LIFO are examples of cost flow ________________. ASSUMPTIONS APINSMOTSUS Unscramble
4. Under this inventory system the balance in the Inventory account changes with each sale. PERPETUAL LEAPUETRP Unscramble
5. Under this inventory system the balance in the Inventory account does not change with each sale. PERIODIC RECIOPID Unscramble
6. A ___________ is a type of business that must report the amount of its raw materials, work-in-process, and finished goods inventories. MANUFACTURER FNCREMTARAUU Unscramble
7. The freight cost on inventory items that are purchased FOB __________ point will be an inventoriable cost. SHIPPING HIGNPSPI Unscramble
8. There will be no freight-in on goods purchased FOB _______________. DESTINATION OSIATDNNETI Unscramble
9. The annual cost of goods sold divided by the average inventory balances is the 游戏电竞线上外围APP v5.2 inventory ______________ ratio. TURNOVER EVNUROTR Unscramble
10. The expected selling price in the ordinary course of business minus the estimated costs of completion, disposal, and transportation is the 游戏电竞线上外围APP v5.2 net ___________ value. REALIZABLE ZBEIARLELA Unscramble

Want more practice questions?
Receive instant access to our graded Quick Tests (more than 1,800 unique test questions) when you join AccountingCoach PRO .

Certificate of Achievement

Certificates of Achievement

We now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping. The certificates include Debits and Credits, Adjusting Entries, Financial Statements, Balance Sheet, Income Statement, Cash Flow Statement, Working Capital and Liquidity, Financial Ratios, Bank Reconciliation, and Payroll Accounting. Click here to learn more.

PRO Testimonial
"I love your PRO Plus program, I must say you've done a fantastic job creating this course. I learned more here in a few weeks, than I did in the previous 2 years with my college 'Bookkeeping' program. In fact, I was doing my final project when I realized they just did not teach me (or I did not retain) all I needed to know. Thanks to your course, I am getting ready to complete their diploma course. I plan to get my certification and start a bookkeeping business here. I was thrilled to pay for your course, well worth it. Thank You!" - Thomas G.