State the Accounting Term That Applies to Each of the Following

State the accounting term that applies to each of the following definitions.
$$\begin{array} { | l | l | } \hline \text { Definition } & \text { Accounting Term } \\\hline \text { Principle that states significant items must } & \\\text { conform to GAAP. } & \\\hline \text { Treats the most recent/newest purchases } & \\\text { as the first units sold. } & \\\hline \text { Requires that a company report enough } & \\\text { information for outsiders to make } & \\\text { knowledgeable decisions. } & \\\hline \text { Identifies exactly which inventory item } & \\\text { was sold. Usually used for higher cost } & \\\text { inventory. }\\\hline\end{array}$$