Assuming Rising Costs,the Switch from LIFO to FIFO or Average

Multiple Choice

Assuming rising costs,the switch from LIFO to FIFO or average cost would most likely have what effect(s) ?

A) Increase reported net income in the income statement.
B) Decrease tax obligations to the Internal Revenue Service (IRS) .
C) Increase reported net income and tax obligations.
D) Decrease reported net income and tax obligations.