25 01:21:46 eBook Which of the following statements regarding the financial statement impact of inventory costing is false? Multiple Choice The weighted average method smooths out erratic changes in costs O When purchase prices are different, the methods to assign inventory costs result in different amounts for cost of goods sold Inventory on the balance sheet approximates current cost when FIFO is used The use of different costing methods do not impact net income Cost of goods sold on the income statement approximates current cost when LIFO is used 88 D O