Select the term in the blank space beside the definition that it most closely matches. 1. Goods a company owns and expects to sell to its customers. 2. Time period in which a cash discount is available. 3. Time period that can pass before a customer's full payment is due. 4. A type of business that earns income by buying and selling merchandise. 5. Information not included in the typical ledger accounts. 6. Ownership of goods is transferred when the seller delivers goods to the carrier. 7. Inventory is updated for purchases and sales of inventory only at the end of a period. 8. Purchaser's description of a cash discount received from a supplier of goods. Credit period Discount period FOB shipping point Merchandise inventory Merchandiser Deriodic inventory system Select the term in the blank space beside the definition that it most closely matches. 1. Goods a company owns and expects to sell to its customers. 2. Time period in which a cash discount is available. 3. Time period that can pass before a customer's full payment is due. 4. A type of business that earns income by buying and selling merchandise. 5. Information not included in the typical ledger accounts. 6. Ownership of goods is transferred when the seller delivers goods to the carrier. 7. Inventory is updated for purchases and sales of inventory only at the end of a period. 8. Purchaser's description of a cash discount received from a supplier of goods. Merchandise inventory Merchandiser Periodic inventory system Purchases discount Supplementary records