This exercise tests your understanding of the three inventory methods. In the space provided, write the name of the inventory method that best fits the description (specific unit, FIFO, or weighted average). Assume that the cost of inventory is rising.

_________ a. Provides the same result for ending inventory in both a periodic and a perpetual inventory system

_________ b. Maximizes reported net income when inventory purchase prices are falling

_________ c. Results in a cost of ending inventory that is close to the current cost of replacing the inventory

_________ d. Maximizes reported net income when inventory purchase prices are rising

_________ e. Used to account for automobiles, jewellery, and art objects

_________f. Provides a smoother measure of ending inventory and cost of goods sold over time

_________g. Precisely matches cost of goods sold with net sales revenue.