4. Assuming annual inflation of 3%, which of the following is likely to be correct?

A. Using the FIFO inventory method will likely result in a higher Cost of Goods Sold than using LIFO

B. Using the LIFO inventory method will likely result in a higher Cost of Goods Sold than using FIFO

C. Using the LIFO inventory method will likely result in the current inventory being valued at near actual replacement cost.

D. A and C are correct.

E. B and C are correct.