Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Chapter 6 vocab

TermDefinition
consigned inventory merch that is shipped by manufacturers to retailers who act as the their selling agent
consignee the retailer in a consigned inventory arrangement
consignor manufacturer in a consigned inventory arrangement
days' sales in inventory average inventory / average daily cost of goods sold
FIFO inventory cost flow method method of inventory costing that assumes the first units purchased are the first ones sold
gross profit method method of estimating inventory cost that is based on the relationship of gross profit to sales
inventory turnover cost of goods sold / average inventory
LIFO inventory cost flow method method of inventory costing that assumes he last units purchased are sold and the ending inventory is made up of the first purchases
LCM method method of valuing inventory that reports it at the lower of is current market value
net realizable value estimated selling price of an inventory item minus any direct costs
physical inventory a detailed listing of merch on hand
purchase order the document authorizing the purchase of the inventory from an approved vendor
receiving report the form used by receiving personnel to indicate that materials have been received and inspected
retail inventory method method of estimating inventory cost that is based on the relationship of cost to retail price
specific identification inventory cost flow method method of inventory costing in which a unit sold is identified with a specific purchase
weighted average inventory cost flow method method of inventory costing in which the cost of the units sold and in ending inventory is a weighted average of the purchase costs
subsidiary inventory ledger subsidiary ledger containing individual accounts for items of inventory
Created by: hellocookies
Popular Accounting sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards