Proponents of lifo and fifo procedures ascribe certain merits to each. Identify the inventory procedure, lifo or fifo, to which the following features are attributed:
(a) Matches actual physical flow of goods in most cases.
(b) Matches old costs with new prices.
(c) Costs inventory at approximate replacement cost.
(d) Matches new costs with new prices.
(e) Emphasizes the balance sheet.
(f) Emphasizes the income statement.