Which Inventory Costing Method Most Closely Approximates Current Cost for Each

Multiple Choice

Which inventory costing method most closely approximates current cost for each of the following:

$\begin{array}{lcc}\text { Ending Inventory }&\text { Cost of Goods Sold }\\\end{array}$

A) $\begin{array}{lcc}\text { } & \text { FIFO } & \text {\quad\quad\quad\quad\quad FIFO } \\\end{array}$

B) $\begin{array}{lcc}\text { } & \text { FIFO } & \text {\quad\quad\quad\quad Average-cost } \\\end{array}$

C) $\begin{array}{lcc}\text { } & \text { Average-cost } & \text {\quad\quad FIFO } \\\end{array}$

D) $\begin{array}{lcc}\text { } & \text { Average-cost } & \text {\quad Average-cost }\end{array}$