=+1. In each space below, place the correct sign [less than (), greater than (), or equal

(=)] for each comparison, assuming periods of rising prices.

a. FIFO inventory ____________ LIFO inventory

b. FIFO cost of goods sold ____________ LIFO cost of goods sold

c. FIFO net income ____________ LIFO net income

d. FIFO income tax ____________ LIFO income tax