1. FLOW OF INVENTORY COSTS
Beginning
Merchandise
Inventory
Net
Purchases
Ending
Merchandise
Inventory
Cost of
Sold
Cost of
Merchandise
Available for Sale
Lesson 6-1, page 168

2. STOCK RECORD FOR A PERPETUAL INVENTORY SYSTEM
1. Record the description information. 1
2. Write the beginning quantity. 2
3. Record all sales transactions. 3 4
4. Enter all purchase transactions.
Lesson 6-1, page 170

3. INVENTORY RECORD USED FOR THE PERIODIC INVENTORY3
3. Write the number of units on hand.
1. Enter inventory date and item description. 1 4
4. Record the unit price. 5
5. Calculate and record the total item cost. 2
2. Record stock numbers and descriptions. 6
6. Total the column.
Lesson 6-1, page 171

4. TERMS REVIEW consignment consignee consignor stock record stock ledger
purchase order
inventory record
Lesson 6-1, page 172