Identify the differences between F.I.F.O. L.I.F.O. and theaverage-cost method of

Identify the differences between F.I.F.O. L.I.F.O. and theaverage-cost method of inventory valuation.Be sure to include the effects of each method on cost of goodssold and net income in your answer. Alsodiscuss the differences between the physical movement of goods andcost flow assumptions. Your answer should illustrate understandingof the three major inventory valuation methods and therelationship between physical inventory flow and cost flowassumptions. Respond to at least two of your classmatesposts.