1407000 Fill in the blanks. If costs are rising, then...... 1) FIFO COGS is _(greater or less than) LIFO COGS 2) FIFO ending inventory is (greater or less than) LIFO ending inventory 3) Net Income for a company using FIFO will be _(greater or less than) a company that uses LIFO If ending inventory is understated: (Fill in with overstated or understated): 4) COGS is 5) Net Income is 6) Ending Retained Earnings are 7) Stockholder's Equity is 8) Assets are