Which of the Following Will Occur When Inventory Costs Are

Multiple Choice

Which of the following will occur when inventory costs are decreasing?

A) LIFO will result in lower net income and lower ending inventory than will FIFO.
B) FIFO will result in lower net income and lower ending inventory than will LIFO.
C) LIFO will result in a lower net income,but a higher ending inventory,than will FIFO.
D) FIFO will result in a lower net income,but a higher ending inventory,than will LIFO.