1) If prices are falling, will the moving weighted average or the FIFO method of inventory valuation result in the lower cost of goods sold? 2) Caps Co,. a store that sells baseball hats, received a shipment of inventory. The purchase price of inventory is $2,000, a bulk discount of 40% off was received, the shipping charges were $200, and the import duties were $140. What is the total cost of inventory? 3) Give the meaning of the following when applied to inventory a) FIFO, and b) cost. 4) May a company change its inventory pricing method each accounting period?