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

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Question $5$ options:

$12345678910$

Cost of goods available for sale, less ending inventory.

$12345678910$

Freight cost to deliver goods to customers which is reported as a selling expense.

$12345678910$

Sales revenue less sales returns and allowances and less sales discounts.$$

$12345678910$

Freight terms that require the seller to pay the freight cost.$$

$12345678910$

The excess of sales revenue over the cost of goods sold.$$

$12345678910$

Contra revenue account to Sales Revenue where sales returns and$/$or allowances are recorded.$$

$12345678910$

Reduction given by sellers for prompt payment of a credit sale.$$

$12345678910$

$$A liability account merchandising companies use to record the sale taxes the company collects from customers and remit to the taxing authority.$$

$12345678910$

The asset that represents the merchandise that companies buy and sell to its customers.$$

$12345678910$

Freight terms that require$$the buyer to pay the freight cost.

$1.$

Cost of Goods Sold

$2.$

Net Sales$$

$3.$

Inventory

$4.$

FOB Destination

$5.$

FOB Shipping Point

$6.$

Freight$-$Out

$7.$

Sales Returns and Allowances

$8.$

Sales Discount

$9.$

Gross Profit

$10.$

Sales Taxes Payable