Ace Company Began the Current Accounting Period with 9,000 Units

Multiple Choice

Ace Company began the current accounting period with 9,000 units of inventory purchased for $100 per unit. Ace sells its units at $300 per unit. Ace would experience a LIFO liquidation if:

A) the sales price falls below $300 per unit.
B) the purchase price falls below $100 per unit.
C) the level of ending inventory falls below 9,000 units.
D) any of the above scenarios happened.