Net income results, reported in the financial statement presentation, can be affected by the inventory reporting methods used.

Net income results, reported in the financial statement presentation, can be affected by the inventory reporting methods used. FIFO, LIFO, and weighted average methods each have their own implications during periods of inflation and deflation. Assume the role of a manager, employee, or an investor, and analyze the GAAP and ethical implications of each reporting method in a hypothetical company. Then, given your role, select which reporting method you would use, and explain why.