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Match the accounting terms with the corresponding defenitions. a. Treats the oldest inventory purchases as the first units sold. b. Requires that a company report
Match the accounting terms with the corresponding defenitions.
a. Treats the oldest inventory purchases as the first units sold. b. Requires that a company report enough information for outsiders to make knowledgeable decislons. o. Identifies exactly which inventory item was sold. Usually used for higher cost invertory. d. Calculates a weighted-average cost based on the cost of goods avalable for sale and the number of units avaliable. e. Principle whose foundation is to exercise caution in reporting financial statement items. t. Treats the most recenthewest purchases as the first units sold. 9. Businesses should use the same accounting mothods from period to period. h. Principle that states significant items must conform to GAAP Step by Step Solution
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