identify the inventory costing method (SI, FIFO, LIFO, or WA) best described by each of the following separate statements. Assume a period of increaseing cost.

1. results in the highest cost of goods sold

2. Yields the highest net income

3. Has the lowest tax expense becuase of reporting the lowest net income

4. Better matches current costs with revenues.

5. Precisely matches the cost of items with the revenues they generate.