True/False

11. Market in the term LCM is defined as the current replacement cost of purchasing the same inventory items in the usual manner. 12. The first-in, first-out (FIF0) method of assigning costs to both inventory and cost of goods sold assumes that inventory items are sold in the order acquired. 13. An advantage of the weighted average inventory method is that it tends to smooth out erratic changes in costs. 14. The UFO method of inventory valuation can result in a company's ending inventory being valued at less than the inventory's replacement cost because LIFO inventory leaves the oldest costs in inventory. 15. An advantage of UFO is that it assigns the most recent costs to cost of goods sold, and does a better job of matching current costs with revenues on the income statement