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Exercise 9.29 Concepts, terminology [LO9-1,92, 9-3, 9-495,96,97] Listed below are several terms and phrases associated with in term that is most appropriately associated with it. ventory measurement. Pair each item from the list of phrases Inv 1. Reduction in selling price below the original selling price 2. Beginning inventory is not included in the calculation of the cost-to-retail percentage. 3. Deducted in the retail column after the calculation of the cost-to-retail percentage 4 Requires base year retail to be converted to layer year retail and then to cost. 5. Gross profit divided by net sales. 6. Material inventory error discovered in a subsequent year 7. Must be added to sales if sales are recorded net of discounts 8. Deducted in the retail column to arrive at goods available for sale at retall 9. Divide cost of goods available for sale by goods available at retail. 10.Average cost, lower of cost or market 11. Added to the retail column to arrive at goods available for sale 12 Increase in selling price subsequent to initial markup 13. Selling price less estimated selling costs 14. Accounting change requiring retrospective treatment Prev 4 of 4 Exercise 9.29 Concepts, terminology [LO9-1,92, 9-3, 9-495,96,97] Listed below are several terms and phrases associated with in term that is most appropriately associated with it. ventory measurement. Pair each item from the list of phrases Inv 1. Reduction in selling price below the original selling price 2. Beginning inventory is not included in the calculation of the cost-to-retail percentage. 3. Deducted in the retail column after the calculation of the cost-to-retail percentage 4 Requires base year retail to be converted to layer year retail and then to cost. 5. Gross profit divided by net sales. 6. Material inventory error discovered in a subsequent year 7. Must be added to sales if sales are recorded net of discounts 8. Deducted in the retail column to arrive at goods available for sale at retall 9. Divide cost of goods available for sale by goods available at retail. 10.Average cost, lower of cost or market 11. Added to the retail column to arrive at goods available for sale 12 Increase in selling price subsequent to initial markup 13. Selling price less estimated selling costs 14. Accounting change requiring retrospective treatment Prev 4 of 4

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