Pregunta 7 Listed below are 5 terms followed by a list of phrases that describe or characterize each of the terms Match each phrase with the correct term Specific identification Net method Gross profit ratio Gross method FIFO A (Cost of goods sold Net sales) B. Purchase discounts not taken are considered interest expense C Most recent purchases will be included in ending inventory D Purchase discounts not taken are included in inventory E Products that are not yet complete Pregunta 8 Inventory costing methods are merely means by which costs are allocated between ending inventory and cost of goods sold O Verdadero Falso Pregunta 9 In a bank reconciliation, adjustments to the book balance could include adding or subtracting company errors Verdadero Falso Pregunta 10 The largest expense on a retailer's income statement is typically depreciation expense Verdadero Falso Pregunta 11 Cost of goods sold is: ginning inventory-ending inventory et purchas nd imtaybeging nry Beginning inventory+ accounts payable- net purchases Beginning inventory-net purchases+ ending inventory