matching

Updates accounting records for each purchase and sale of inventory Assumes that the most recent purchases are sold first Cost of goods available for sale (at each sale) divided by the number of units avallable for sale. Each item in inventory can be matched with a specific purchase and invoice. Any general ledger account that summarizes subsidiary account data. A journal used to record and post transactions of a similar type. A list of individual accounts with a common characteristic that has detalied information on specific accounts in the general ledges