The matching principle requires that the cost of goods sold be matched against the ending merchandise inventory in order to determine income.

Name: The matching principle requires that the cost of goods sold be matched against the ending merchandise inventory in order to determine income.
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Question

Quizplus · Accepted Answer

The matching principle requires that the cost of goods sold be matched against the revenue it helped to generate, not the ending merchandise inventory.

The Matching Principle Requires That the Cost of Goods Sold