Match the items below by entering the appropriate code letter in the space provided.

	An incentive to encourage customers to pay their accounts early.
	Expenses incurred in the process of earning sales revenue.
	Freight terms that require the seller to pay the freight cost.
	Sales revenue less sales returns and allowances and sales discounts.
	A document that supports each credit purchase.
	Net sales less cost of goods sold.
	Freight cost to deliver goods to customers reported as a selling expense.
	Requires a physical count of goods on hand to compute cost of goods sold.
.	Gross profit less total operating expenses.
	Freight terms that require the buyer to pay the freight cost.
	Cost of goods sold consists of the most recent inventory purchases.
	Tracks the actual physical flow for each inventory item available for sale.
	Ending inventory valuation consists of the most recent inventory purchases.
	The same unit cost is used to value ending inventory and cost of goods sold.
	The amount that would be paid at the present time to acquire an identical item.
	Measures the number of times the inventory sold during the period.

A.	Average-cost method
B.	Last-in, first-out (LIFO) method
C.	FOB destination
D.	Purchase invoice
E.	Net sales
F.	Current replacement cost
G.	FOB shipping point
H.	Operating expenses
I.	Freight-out
J.	Specific identification method
K.	Periodic inventory system
L.	Inventory turnover
M.	Sales discounts
N.	First-in, first-out (FIFO) method
O.	Income from operations
P.	Gross profit