Match each phrase with its definition. A method in which cost of goods sold is recorded only at the end of a period. A method in which cost of goods sold is recorded at the time of each sale. The expense of purchasing and preparing the merchandise sold during a period. Seller's description of a cash discount granted to buyers in return for early payment. The amount of time allowed by a seller before payment is ofte from the buyer. Time period in which a cash discount is available. Refers to credit terms where goods in transit are owned by the seller. Refers to credit terms where goods in transit are owned by the buyer