Under the FIFO Cost Flow Assumption During a Period of Rising

Multiple Choice

Under the FIFO cost flow assumption during a period of rising costs,which of the following is false?

A) Income tax expense will be higher under FIFO than under LIFO.
B) Net income will be higher under FIFO than under LIFO.
C) Ending inventory will be lower under FIFO than under LIFO.
D) Cost of goods sold will be lower under FIFO than under LIFO.