Select the appropriate term that fits each description below. v During an Inflationary period, this inventory method results in the lowest tax bil A. FIFO B. LIFO v This is the accounting concept of carrying inventory at its replacement C. Weighted Average cost. D. Specific Identification This method best suits merchandisers who sell a low volume of unique and high-cost inventory. During an inflationary period, this inventory method results in the highest net income. E. Inventory Shrinkage F. Lower of Cost or Market G. Consistency Principle This is the accounting concept of writing down the value of inveotry that is determined to be lost stolen, damaged, or obsolete