When Inventory Costs Are Increasing with No LIFO Liquidation

Multiple Choice

When inventory costs are increasing with no LIFO liquidation:

A) FIFO cost of goods sold will be higher than LIFO cost of goods sold.
B) FIFO ending inventory will be lower than LIFO ending inventory.
C) FIFO cost of goods sold will be lower than LIFO cost of goods sold.
D) FIFO and LIFO will result in the same cost of goods sold and ending inventory.