Match each phrase with its definition.

$1.$ Calculated as net sales minus cost of goods sold.

$2.$ A current asset that includes the cost to buy goods and make them ready for sale.

$3.$ Purchaser's description of a cash discount received from a supplier of goods.

$4.$ A type of business that earns income by buying and selling merchandise.

$5.$ A method in which cost of goods sold is recorded only at the end of a period.

$6.$ A method in which cost of goods sold is recorded at the time of each sale.

$7.$ The expense of purchasing and preparing the merchandise sold during a period.

$8.$ Seller's description of a cash discount granted to buyers in return for early