Assuming annual inflation of $7\%,$ which of the following is most likely to be correct?

A$.$ Using the LIFO Inventory method will likely result in a higher Net Income than using FIFO.

B$.$ Using the FIFO Inventory method will likely result in a higher Net Income than using LIFO.

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.