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Match the following statements to the appropriate terms: 1. Notes and accounts receivables that result from sales transactions. 2. Tracks the actual physical flow for

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Match the following statements to the appropriate terms: 1. Notes and accounts receivables that result from sales transactions. 2. Tracks the actual physical flow for each inventory item available for sale. 3. Goods that are only partially completed in a manufacturing company. 4. Cost of goods sold consists of the most recent inventory purchases. 5. Goods ready for sale to customers by retailers and wholesalers. 6. Title to the goods transfers when the public carrier accepts the goods from the seller. 7. Ending inventory valuation consists of the most recent inventory purchases. 8. The same unit cost is used to value ending inventory and cost of goods sold. 9. Title to goods transfers when the goods are dellvered to the buyer. 10. Measures the number of times the inventory sold during the period. Average-cost method Merchandise Inventory Work in process Trade receivables Last-in, first-out (LIFO) method FOB destination First-in, first-out (FIFO) method inventory turnover ratio FOB shipping point Specific identification method

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