turnover statements 1. An inventory valuation method that assumes that #41. Inventory inventory items are sold in the order acquired 2. The expected sales price of an item minus the cost #42. Retail of making the sale inventory method 3. The number of times a company's inventory is sold #43. Net realizable during a period value 4. A method for estimating an ending inventory based #44. Weighted on the ratio of the amount of goods for sale at cost to average inventory the amount of goods for sale at retail price method 5. An estimate of days needed to convert the inventory at the end of the period into receivables or #45. Conservatism cash principle 6. Financial statements prepared for periods of less #46. Interim than one year 7. 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 #47. LIFO each sale method 8. The accounting principle that aims to select the less optimistic estimate when two or more estimates #48. FIFO are about equally likely method 9. An inventory valuation method where the purchase cost of each item in ending inventory is identified and #49. Specific used to determine the cost assigned to inventory identification method 10. An inventory valuation method that assumes costs for the most recent items purchased are sold first and #50. Days' sales in charged to cost of goods sold inventory