Which of the Following Statements Is True

Multiple Choice

Which of the following statements is true?

A) Whether unit costs are steadily rising or falling,the weighted average cost method always yields a cost of goods sold between that of FIFO and LIFO.
B) FIFO will lead to the highest net income if unit costs are falling.
C) LIFO will always yield a smaller net income than FIFO.
D) Specific identification is the most practical,but least accurate,measure of cost and net income.