PROJECT INFORMATION: You are a Senior Management Accountant at Wild Water Sports Inc., a company that manufactures water sports equipment. Currently, the company uses the LIFO method (UEPS) to assess inventory costs. Your boss has asked you to analyze the advantages and disadvantages of switching to FIFO or the weighted average method. Objectives of the course to be covered: 1.2.5 Required: Prepare a 2- or 3-page memorandum that explains the advantages and disadvantages of LIFO (UEPS), FIFO (PEPS) and the weighted average method as inventory costing methods. Include the implications for the financial statements of switching from LIFO to each of the other valuation methods. Finally, make a recommendation based on your research on which valuation method Wild Water Sports, Inc should use