All of the Following Are Reasons for Choosing the FIFO

Multiple Choice

All of the following are reasons for choosing the FIFO versus the LIFO costing method EXCEPT:

A) FIFO reports the most up- to- date inventory values on the balance sheet.
B) FIFO uses more current costs in calculating the value of ending inventory.
C) FIFO generally results in higher income taxes paid.
D) FIFO is generally more conservative.