Listed below are 5 terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the correct term.
-Average cost
A)Items sold are assumed to come from a mixture of goods acquired during the period.
B)Goods are transferred to another party but title remains with transferor.
C)Cost of goods available for sale less ending inventory.
D)Items sold are assumed to be those acquired first.
E)Items sold are assumed to be those acquired last.

Question

Quizplus · Accepted Answer

Average cost assumes that the items sold come from a mixed pool of goods, reflecting an average of the costs of goods available for sale during the period.

Listed Below Are 5 Terms Followed by a List of Phrases