Accounting 101 Examination (Continued) Match the following terms to the statements below: -5 a. Consignment b. Lower of Cost or Market c. Market value d. Perpetual Inventory e. Periodic Inventory 25. The current price to buy or replace new inventory. 26. The rule that governs how inventory is valued on financial statements. andise for another company -8. Inventory system that shows daily changes in purchasi ing and disposing of goods. 29. A system in which goods are physically counted once during the T F30. Reversing entries are journalized on the last dasy of the cycle. V. Complete either a Periodic Chart or a Perpetual Register from data below Not both e Inventory 1,000@$40 ea June 10 Sold June 15 Purchased 4,000 @ $42ea June 20 Purchased 5,000 @ $45 ea June 25 Sold June 1 600@ $80 ea 8,400 @ $90 ea BONUS 1. From data in IIl B page 1, illustrate the Balance Sheet presentation for the current year for the Building. 4 points Compute and journalize the amount accrued on a $30,000, 15%, 120 day note when December 31 adjusting point is the 50h day of the note. Use same journal on which adjustments were re4corded. 6 points.[ BONUS 2