Match the following terms with the appropriate definition

The required method of reporting inventory at market when market is lower than cost. The number of times a company's average inventory is sold during an accounting period. The principle that aims to select the less optimistic estimate when two or more estimates are about equally likely. 1. Consignor > An estimate of days needed to convert the inventory available at the end of the period into receivables or cash. V One who receives and holds goods owned by another for purposes of selling the goods for the owner. V A method for estimating inventory based on the ratio of the amount of goods for sale at cost to the amount of goods for sale at retail prices. V A procedure for estimating inventory where the past gross profit rate is used to estimate the cost of goods sold, which is then subtracted from the cost of goods available for sale to determine the estimated ending inventory The method of assigning costs to inventory where the purchase cost of each item in inventory is identified and used to determine the cost of inventory. An owner of goods who ships them to another party who will then sell the goods for the owner. 1. Consignor 2. Gross profit method 3. Consistency concept 4. Days' sales in inventory 5. Consignee 6. Specific identification method 7. Inventory turnover 8. Lower of cost or market 9. Retail inventory method 10. Conservatism principle