Which Cost Formula Provides the Better (1) Income Statement and (2)

Multiple Choice

Which cost formula provides the better (1) income statement and (2) statement of financial position valuations, respectively?

A) (1) average and (2) FIFO
B) (1) FIFO and (2) average
C) (1) FIFO and (2) FIFO
D) (1) average and (2) average