need help answering these

Inventory Records Inventory Date Quantity Unit Cost Total Cost Mar. 1 350 $98.00 $83,300 1,275 95.00 121,125 Mar. 8 650 98.00 63,700 Mar. 11 325 98.00 31,850 Mar. 14 325 98.00 31,850 780 103.00 80,340 Mar. 22 260 98.00 25,480 Mar. 25 260 98.00 25,480 1,600 100.00 160,000 Changing Prices X You work for a CPA firm that has been hired by Widget Tek, a merchandising company that is getting ready to expand. The president of Widget Tek is concerned with obtaining a loan for the expansion and wants to be sure that all the financial statements accurately reflect the company's 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", or leave the box blank. Cost of Merchandise Sold Ending Merchandise Inventory Net Income Weighted average, when prices are falling Weighted average, when prices are rising FIFO, when prices are rising LIFO, when prices are falling LIFO, when prices are rising FIFO, when prices are fallingConsidering all of the information you have about Widget Tek, answer the following questions. 1. To better account for the older merchandise inventory, the president of Widget Tek wonders whether the merchandise inventory should be valued using a different method. Do you agree, and why or why not? because will 2. Will a change in inventory method increase a company's net income on its financial statements? 3. When is merchandise inventory not valued at cost