ASAP please!!!!

1. Assuming annual inflation of 3%, which of the following is likely to be correct?
   1. Using the FIFO inventory method will likely result in a higher Cost of Goods Sold than using LIFO
   2. Using the LIFO inventory method will likely result in a higher Cost of Goods Sold than using FIFO
   3. Using the LIFO inventory method will likely result in the current inventory being valued at near actual replacement cost.
   4. A and C are correct.
   5. B and C are correct.