In Times of Rising Prices for Inventory,which of the Following

Multiple Choice

In times of rising prices for inventory,which of the following is true?

A) LIFO adopters would report higher cost of goods sold and lower ending inventory than FIFO adopters.
B) FIFO adopters would report higher profits and lower ending inventory than LIFO adopters.
C) LIFO adopters would report higher profits and higher ending inventory than FIFO adopters.
D) FIFO adopters would report higher cost of goods sold and higher ending inventory than LIFO adopters.