The lettered items in the list below represent inventory costing method that each of the following statements BEST describes. methods. Write the letter of the A. Weighted average B. FIFO (first-in, first-out) C. LIFO (last-in, first-out) Matches recent costs with recent revenues. Results in the lowest net income in periods of inflation. Results in the lowest net income in periods of deflation. Tends to level out the effects of inflation. Results in a balance sheet inventory amount approximating replacement cost. Results in the highest net income in periods of inflation. Results in the highest net income in period of deflation