Match the definitions to the terms Periodic Inventory System Ne: Reelzeble Value Les-n. Last-out Weighted Average Control Principle FOB First-in, First-out Competicility Principle Cost Benefit Princiale Flexicility Principle Gross Margin Perpetual Inventory System March cach of the corresbode to the tem bio Free on board point of transfer 1 Net sales mirus Cos: of goods sod. 11 Updates accounting records for each purchase and each sale of inventory. 12 Assures that inventory items are sold in the order acquired. Assures that the most recent purchases are sold first 6 Cost of goods available for see it each sale) divided by the number of units available for sale at each sale). 3 Prescribes that an accouting information system conforms with a compray's activities, personnel, and structure. Prescribes that an accounting information system have interne controls (grocedures that help manegers control and monitor business activ ties. Preserbes that the beneifts from an activity outweigh the costs of that activity. E 8 Preser bes that an accounting informaton system be able to adapt to chegnes in the cornpary, business environment, and needs of decision makers