Name Chapter 18 Inventory and Overhead Parti Vocabulary Matchup A. B. Average cost for that period for inventory Each cost is known 1. LIFO -2. FIFO 3. Weighted-averageC. A ratio used to calculate cost of ending 4. Specific identification D. New inventory sold first 8 Inventory turnover 6. Overhead expenses F. (Beg. inv. End. Inv.)+2 E. Inventory not updated continually G. Inventory continually updated H. A ratio L Operating expenses not directly 8. Periodic 9. Retail method 10. Average inventory associated with a specific department 11. Gross profit methodJ. Old inventory sold first K. Cost percentage Part II Drill Complete the table Total Units Unit Cost Dollar Cost 12. Beg. Inventory A 12. A Jan. 1 Apr. 11 May 17 Dec. 5 8 6 $11 $14B. 30 19 $16 D. 21 units not sold 13. Using No. 12, calculate: LIFO FIFO Weighted-Average 13. A. Cost of ending inventory Cost of goods sold C. D. E