Which of the Following Would Be True If Inventory Costs

Multiple Choice

Which of the following would be true if inventory costs were increasing?

A) LIFO would result in lower net income and lower ending inventory amounts than would FIFO
B) FIFO would result in lower net income and higher ending inventory amounts than would LIFO
C) LIFO would result in a lower net income amount but a higher ending inventory amount than would FIFO
D) None of these would be true