options are below

Select the term in the blank space beside the definition that it most closely matches. 1. A current asset that includes the cost to buy goods and make them ready for sale 2. Purchaser's description of a cash discount received from a supplier of goods 3. A type of business that carns income by buying and selling merchandise 4 Inventory is updated for purchases and sales of inventory only at the end of a period 5. Inventory is updated for each purchase and each sale of inventory 6 The expense of purchasing and preparing the merchandise sold during a period 7. Seller's description of a cash discount granted to buyers in return for early payment 8 The amount of time allowed by a seller before payment is due from the buyer Cost of goods sold Credit period Merchandise inventory Merchandiser Merchandiser Periodic inventory system Perpetual inventory system Purchases discount Sales discount