Match the Following Terms with the Appropriate Definition

Multiple Choice

Match the following terms with the appropriate definition.
-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.

A) Gross profit method
B) Inventory turnover
C) Conservatism principle
D) Consistency concept
E) Consignor
F) Consignee
G) Days' sales in inventory
H) Retail inventory method
I) Specific identification method
J) Lower of cost or market