Question 15 (1 point) Snifftech Ltd. sells robotic sensors used in drug detection by border security agencies. Snifftech imports these sensors from a Korean manufacturer. These sensors are considered interchangeable from an inventory perspective. As a result of an increase in the cost of raw materials for their manufacturer and the decline in the Canadian dollar, Snifftech has been facing steadily increasing prices to purchase the sensors for the past few years. Based on this scenario, which of the following statements would be correct? If Snifftech used the FIFO cost formula, it would result in the highest cost of goods sold value (relative to the weighted average cost formulas) If Snifftech used the FIFO cost formula, it would result in the lowest ending inventory value (relative to the weighted average cost formula) Olf Snifftech used the weighted average cost formula, it would result in the highest ending inventory value (relative to the FIFO cost formula) If Snifftech used the weighted average cost formula, it would result in the highest cost of goods sold value (relative to the FIFO cost formulas)