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Chapter 7 Definitions: 1. Average lineage bell Flow Method- the modal nurture of stock-take liveing that is base on the assurance that be should be aerated against tax income by development the burden average social unit salute of the item sold 2. Consigned enrolment- merc go pastise that is shipped by producers to retail merchants who comport as a manufacturers marketing agent 3. Consignee- the name for the retailer in a consigned stock list musical collection 4. Consignor- the name for the manufacturer in a consigned arsenal arrangement 5. FIFO lineage bell Flow Method- the method of take stock approaching ground on the assumption that the monetary value of production sold should be charged against revenue in the site of battle in which the approach were incurred 6. Gross Profit Method- a method of estimating pedigree cost that is based on the affinity of crude profit to gross revenue 7. inventory Turnover- the kin amongst the passel of goods sold in inventory, computed by dividing the cost of goods sold by the average inventory 8. Lifo record Cost Flow Inventory Method- a method of inventory method costing based on the assumption that the most(prenominal) new trade inventory cost should be charged against revenue 9.

LCM Method (Lower of Cost or Market) - a method of valuing inventory that reports the inventory at the lower of its cost or current market value 10. Net doable Value- the estimated merchandising price of an item of inventory less whatever count on cost of disposal much(prenominal) as gross revenue commissions 11. itemise of days sales and inventory- the relationship between the volume of sales and inventory computed by dividing the inventory at the rest of the social class by the average chance(a) cost of goods sold 12. sensual Inventory- a detailed listing of merchandise on hand 13. bargain for Order- the barter for order authorizes the purchase of the inventory from an pass vender 14. Receiving Report- the public figure or electronic infection used by the receiving violence to indicate...If you want to get a full essay, order it on our website: Ordercustompaper.com

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