Could I get some help on correct answers and brief explanation on why its correct answer, please and thank you

In periods of rising prices, which of the following statements is true? Both LIFO and FIFO inventory cost methods will yield the same cost of goods sold. A First-In-First Out inventory will yield the lowest cost of goods sold. A Last-In-First Out (LIFO) inventory will yield the lowest cost of goods sold. A moving average cost flow assumption will yield the highest cost of goods sold. Which of the following statements is true regarding inventory cost flow assumptions. The ending quantity of inventory items will always be the same regardless of the method used. In times of rising prices, a FIFO cost flow assumption will result in the lowest income tax expense. The moving average cost flow assumption is most commonly used by companies. The ending quantity of inventory items will always be higher with a FIFO cost assumption. Able Construction entered into a 3 year construction contract for a price of $1,000,000. The following information was provided: Construction costs were $200,000 in year 1 . The company estimated an additional $450,000 to complete the project at the end of year 1 . During year 2 , the company incurred an additional $250,000 in constructions cost. At the end of year 2, due to the rising costs of materials, the company estimated an additional $300,000 costs to complete the project. Using a cost-to-cost method (percentage completion) how much annual revenue should Able recognize in the second year of the project? (round all percentages to two decimals for use in calculations) $300,000 $600,000 $310,000 $290,000