11 Across 1. A calculated amount corresponding to the beginning inventory plus net purchases; represents the total pool of inventory available during a period from which sales can occur 2. A inventory system is "real-time" inventory system that updates inventory records with each purchase and sale 5. A reduction in invoice price offered to customers to encourage prompt payment of invoices 6. A calculated amount corresponding to net sales minus cost of goods sold 10. A memorandum is a seller-prepared document evidencing an approved return of merchandise for credit against an account 12. A discount is cash discount offered to customers to encourage prompt payment of invoices Down 2. A discount is a cash discount available on purchases of merchandise on account; encourages prompt payment 3. The transfer of ownership of inventory will occur when the goods are shipped and the purchaser will incur the freight charges 4. The transfer of ownership of inventory will occur when the goods reach their destination and the seller will incur the freight charges 7. Goods held for resale to others 8. General expense, the selling and administrative costs 9. A inventory system that utilizes a Purchases account and does not update inventory with each sale; inventory is updated by physical count at the end of accounting periods 11. A memorandum is a purchaser-prepared document evidencing a return of merchandise to a seller 13. The total cost attributed to G