Mastery Problem: Inventories Changing Prices You work for a CPA firm that has been hired by Widget Tek Inc., a merchandising company that is getting ready to expand. The president of Widget Tek Inc. is concerned with obtaining a loan for the expansion and wants to be sure that all the financial statements accurately reflect the companyOs accounting records. As preparation for this assignment, you have been asked to review the effects of changing prices on three inventory costing methods: LIFO, FIFO, and weighted average. Identify the scenarios and inventory methods that result in the highest and lowest values for each item listed. Enter @Highest, @Lowest. if not affected select "No effect". Inventory Records Widget Tek Inc.s original accountant accepted a position with another firm and left in early March. You have been asked to review the subsidiary inventory ledger record for Widget Tek Inos main product for March. Study the inventory record for March and answer the