Chapter 18 - Key Terms

Flashcards by Laney Feek, created 20 days ago

Chapter 18 of Practical Business Math Procedures goes over inventory and other terms related to taking inventory. It uses terms to report inventory numbers, methods for dating, and how to spread out overhead.

	Created by Laney Feek 20 days ago

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Average Inventory

Distribution of Overhead

First-in, First-out (FIFO) Method

Gross Profit Method

Inventory Turnover

Just-In-Time (JIT) Inventory System

Last-In, First-Out (LIFO) Method

Overhead Expenses

Periodic Inventory System

Perpetual Inventory System

Retail Method

Specific Identification Method

Weighted-Average Method