weighted average cost flow methods. $($Check all that apply.$)$

Companies using FIFO will report the highest gross profit and net income.

Companies using LIFO will pay higher taxes than companies using FIFO, assuming all else being equal.

In a situation where prices are declining, companies using LIFO will report the smallest cost of goods sold.

Companies using LIFO will report the highest ending inventory on their balance sheets $($as compared to companies using FIFO or weighted average,$)$

Weighted average cost of goods sold will be between FIFO and LIFO costs of goods sold.

Companies using FIFO will report the smallest cost of goods sold $($compared to companies using LIFO or weighted average.$)$