Match the accounting terminology to the definitions. 1. Cost of Goods Sold a. An inventory system...

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Match the accounting terminology to the definitions. 1. Cost of Goods Sold a. An inventory system that requires businesses to obtain a physical count of inventory to determine quantities on hand. 2. Perpetual inventory system b. 3. Periodic inventory system c. Expenses, other than Cost of Goods Sold, that are incurred in the entity's major ongoing operations. Excess of Sales Revenue over Cost of Goods Sold. 4. Operating expenses d. The cost of inventory that the business has sold to customers. 5. Gross margin 6. Inventory e. Goods the company owns and expects to sell to customers in the normal course of operations. f. An inventory system that keeps a running record of inventory. Select the letter of the definition that corresponds to the term. 1. Cost of Goods Sold 2. Perpetual inventory system 3. Periodic inventory system 4. Operating expenses 5. Gross margin 6. Inventory Match the accounting terminology to the definitions. 1. Cost of Goods Sold a. An inventory system that requires businesses to obtain a physical count of inventory to determine quantities on hand. 2. Perpetual inventory system b. 3. Periodic inventory system c. Expenses, other than Cost of Goods Sold, that are incurred in the entity's major ongoing operations. Excess of Sales Revenue over Cost of Goods Sold. 4. Operating expenses d. The cost of inventory that the business has sold to customers. 5. Gross margin 6. Inventory e. Goods the company owns and expects to sell to customers in the normal course of operations. f. An inventory system that keeps a running record of inventory. Select the letter of the definition that corresponds to the term. 1. Cost of Goods Sold 2. Perpetual inventory system 3. Periodic inventory system 4. Operating expenses 5. Gross margin 6. Inventory