Combine select statements

Question

How can comibne below all select statement into one select statement.
Actaully i want max(id ) of each item into one select statement

Select  item,balance from ACTesting  where id =(select max(id) from ACTesting where item='1/2')

Select  item,balance from ACTesting  where id =(select max(id) from ACTesting where item='2/2')

Select  item,balance from ACTesting  where id =(select max(id) from ACTesting where item='2/3')