Below is a list of the qualitative characteristics identified by GAAP. Following the list is a series of descriptive phrases. 
Required:
Match each characteristic with the appropriate phrase.
Definitions:
Ending Inventory
The financial value of items up for sale at the end of a fiscal period.
Lower of Cost or Market
An accounting principle requiring companies to value and report their inventory at the lower of the original cost or its current market price.
Inventory Item
An individual product or article that is held in stock by a business for the purpose of resale or production.
Inventory Value
The total cost or market value of all the goods held by a company meant for sale.
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