Consider the following statements and decide whether they are true or false. If a firm uses LIFO for tax purposes, it must also use LIFO for the financial records presented to investors. 11. Firms that use LIFO must disclose the dollar magnitude of the difference between LIFO and FIFO cost. The term "LIFO liquidation" refers to the transition period when a company converts its inventory accounting system from LIFO to FIFO. Select one: O a. All of them are false b. Two of them are false c. One of them is false O d. All of them are true