Retailers
Wholesalers
Sales revenue
Cost of goods sold
Perpetual inventory system
Periodic inventory system
Purchase invoice
FOB shipping point
FOB destination
Gross profit rate
Profit margin
Merchandise inventory
Finished goods inventory
Work in process
Raw materials
Cost
Specific identification method
First-in, first-out (FIFO)
Last-in, first-out (LIFO)
Average cost method
Lower-of-cost-or-market (LCM)
Conservatism
Current replacement cost
Inventory turnover
Fraud
Internal control
Internal auditors
Cash
Cash equivalents
Cash budget
Financing section
Accounts receivable
Notes receivable
Trade receivables
Bad debt expense
Direct write-off method
Allowance method
Cash (net) realizable value
Percentage-of-receivables basis
Aging the accounts receivable
Factor
Promissory note
Accounts receivable turnover
Average collection period