March 4 Stephen Company sold $3,000 of merchandise on account to Elijah Company. The credit terms were 2/10, n/60. The cost of the merchandise was $1,800. March 6 Elijah Company paid transportation cost of $100 on the March 4 purchase from Stephen Company. March 8 Stephen Company sold $2,000 of merchandise on account to Elijah Company. The credit terms were n/40. The cost of the merchandise was $1,400. March 10 Stephen Company paid transportation cost of $100 for delivery of merchandise sold to Elijah Company on March 8. March 16 Stephen Company issued Elijah Company a $400 credit memorandum for merchandise returned because the merchandise was damaged. The merchandise was purchased by Elijah Company on account on March 8. The cost of the merchandise returned was $280. March 18 Stephen Company received payment from Elijah Company for purchase of March 8. March 21 Stephen Company sold $4,800 of merchandise on account to Elijah Company. The credit terms were 2/10, n/30. The cost of the merchandise was $2,880. March 22 Stephen Company received payment from Elijah Company for purchase of 4 March. March 31 Stephen Company received payment from Elijah Company for purchase of 21 March (10 marks) If cost of merchandise purchased is declining, will the weighted average or FIFO inventory costing method have lower cost of goods sold and why