$19$

$.$ Which of the following statements is true regarding the use of LIFO for inventory valuation?

a$)$ LIFO generally results in higher ending inventory values compared to FIFO.

b$)$ LIFO generally results in lower cost of goods sold compared to FIFO.

c$)$ LIFO generally results in lower tax liabilities compared to FIFO.

d$)$ LIFO generally results in higher gross profit margins compared to FIFO.