Which of the Following Statements About Inventory Costing Methods Is

Multiple Choice

Which of the following statements about inventory costing methods is correct?

A) A change in inventory method is allowed only if it improves the accuracy of the company's financial results.
B) During a period of rising prices,LIFO results in a higher income tax expense than does FIFO.
C) International Financial Reporting Standards (IFRS) allow the use of LIFO but not FIFO.
D) In the U.S. ,if a company uses LIFO on the income tax return,it may use a different method for financial reporting.