Assuming Inflation,which of the Following Relationships Among Inventory Valuation Methods

Multiple Choice

Assuming inflation,which of the following relationships among inventory valuation methods is incorrectly stated?

A) FIFO has a higher ending inventory balance and a higher net income than LIFO.
B) FIFO has a higher ending inventory balance and a higher net income than weighted-average.
C) LIFO has a higher ending inventory balance and a higher net income than weighted-average.
D) Weighted-average has a higher ending inventory balance and a lower cost of goods sold than LIFO.
E) LIFO has a lower ending inventory balance and a higher cost of goods sold than FIFO.