When Inventory Prices Are Rising,the FIFO Method Will Generally Yield

Multiple Choice

When inventory prices are rising,the FIFO method will generally yield a gross profit that is

A) less than the LIFO method.
B) equal to the gross profit of the LIFO method.
C) FIFO does not generally cause a gross profit that is different from that of any other costing method.
D) higher than the LIFO method.
E) All of the above are correct.