Select the one term that best fits each definition
-A file of stock records for all merchandise on hand.
A) first-in, first-out inventory costing method (FIFO)
B) gross profit method of estimating inventory
C) inventory record
D) last-in, first-out inventory costing method (LIFO)
E) lower of cost or market inventory costing method (LCM)
F) market value
G) stock ledger
H) stock record
I) weighted-average inventory costing method

Question

Quizplus · Accepted Answer

A stock ledger, also known as a stock record, is a file that contains stock records for all merchandise on hand. It is used to keep track of the quantities, locations, and statuses of the inventory items a company has in stock.

Select the One Term That Best Fits Each Definition