Which One of the Following Statements Is False

Multiple Choice

Which one of the following statements is false?

A) Under conditions of rising prices, the LIFO method results in lower income than the FIFO method.
B) In most cases, the FIFO method approximates the physical flow of items in inventory.
C) The LIFO method produces a higher ending inventory value than the FIFO method.
D) The FIFO method includes holding gains in income.