Matching Questions 152. Match each of the following terms a through j with the appropriate definition. A. Specific identification methodF. Interim statements B. Days’ sales in inventoryG. Net...

___1.

The accounting constraint that aims to select the less optimistic estimate when two or more estimates are about equally likely.

___2.

The expected sales price of an item minus the cost of making the sale.

___3.

A method for estimating an ending inventory based on the ratio of the amount of goods for sale at cost to the amount of goods for sale at retail price.

___4.

An estimate of days needed to convert the inventory at the end of the period into receivables or cash.

___5.

An inventory pricing method that assumes the unit prices of the beginning inventory and of each purchase are weighted by the number of units of each in inventory; the calculation occurs at the time of each sale.

____6.

Financial statements prepared for periods of less than one year.

____7.

An inventory valuation method that assumes costs for the most recent items purchased are sold first and charged to cost of goods sold.

____8.

An inventory valuation method where each item in inventory is identified with a specific purchase and invoice.

____9.

An inventory valuation method that assumes that inventory items are sold in the order acquired.

____10.

The number of times a company’s average inventory is sold during a period.