Which of the Following Statements Is/are True

Multiple Choice

Which of the following statements is/are true?

A) In a period of rising costs and stable inventory levels, using the LIFO method leads to a lower taxable income and higher net income compared to the FIFO method.
B) In a period of rising costs and stable inventory levels, using the FIFO method leads to a higher taxable income and higher net income compared to the LIFO method.
C) In a period of falling costs and stable inventory levels, cost of goods sold is the same under LIFO and FIFO.
D) All of the other answer choices are true.