Match the items below by entering the appropriate code letter in the space provided Last-in last-out method I. Ageing the accounts receivable A. Merchandise inventory J. B. Average cost method K. Net sales C. Cash (net) realizable value Periodic inventory system Specific identification method Trade receivables O. L. D. Contra revenue Direct write-off method First-in first-out method F. Gross profit M. E. N. Work in process G. Gross profit rate H. Requires a physical count of goods on hand to compute cost of goods 1. sold. Tracks the actual physical flow for each inventory item available for sale Goods that are only partially completed in a manufacturing company 2. 3. Cost of goods sold consists of the most recent inventory purchases. Goods ready for sale to customers by retailers and wholesalers. Ending inventory valuation consists of the most recent inventory 4. 5. 6. purchases The same unit cost is used to value ending inventory and cost of goods 7. sold. 8. Notes and accounts receivable that result from sales transactions 9. Analysis of customer account balances by length of time they have been unpaid. 10. Bad debt losses are not estimated and no allowance account is used. 11. The net amount expected to be received in cash 12. An account that is offset against a revenue account on the income statement. 13. Net sales less cost of goods sold. 14. Sales less sales returns and allowances and sales discounts. Gross profit divided by net sales 15. 14