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4 Cards in this Set
- Front
- Back
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Average- Cost Method |
Inventory costing method that uses the weighted average unit cost to allocate to ending inventory and cost of goods sold the cost of goods available for sale (pg 289). |
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Cosinged Goods |
Goods held for sale by one party although ownership of the goods is retained by another party (pg.283) |
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Consistency Concept |
Dictates that a company use the same accounting principles and methods from year to year. |
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Current Replacement Cost |
The current cost to replace an inventory item |
