A company has the following inventory transactions: Date Units Price/Unit Transaction Beginning Balance Purchase 200 March 1 March 4 $4 125 56 March 12 Sell 250 $15 100 $5 March 23 March 28 Purchase Sell 50 $15 What is the company's Gross Profit Rate using FIFO in a periodic inventory system? etc. Round final answer to the nearest whole number.) % (Note: Enter numbers only, no symbols, spaces, commas, Which of the following are true statements? (select all that apply) A. Companies will report higher gross profit when using LIFO, instead of FIFO, in a period of deflation. B. Companies will report higher COGS when using LIFO, instead of Fifo, in a period of deflation. C. Companies will report higher income tax expense when using LIFO, instead of FIFO, in a period of inflation. D. Companies will report higher net income when using LIFO, instead of FIFO, in a period of inflation. Mark for Review What's This