10 and 11 please?

In a period of rising costs, the last-in, first-out (LIFO) method results in lower cost of goods sold and higher net income than the first-in, first-out (FIFO) method. True False Question 11 (5 points) The term "inventory," for a merchandiser, refers to the cost of goods sold equipment that are used in production process raw materials that are used for production goods held for sale to customers