I merchandise inventory on account. merchandise inventory on account and the short Exercises 36-4, 56-5, and 56-6 must be completed before attempt Note: Short Short Exercise S6-7. 86-7 Cor Lea Comparing Cost of Goods Sold of Goods Sold under FIFO, LIFO, and Weighted-average fer to Short Exercises S6-4 through S6-6. After completing those exercises, a the following questions: Preong those exercises, answer Requirements 1. Which inventory costing method produced the lowest cost of goods soldn 2. Which inventory costing method produced the highest cost of goods sova 3. If costs had been declining instead of rising, which inventory costing method would have produced the highest cost of goods sold