Ellie is the sole proprietor of a small specialty store. The business records show that the cost of the store's individual inventory

items has been steadily increasing. The cost of ending inventory is $$125,000,$ and the cost of beginning inventory was $$150,000.$

Ellie uses the LIFO method of inventory valuation. Which of the following statements is true?

a$.$ Ellie has apparently increased the volume of items in her ending inventory as compared to the number of items in her beginning inventory.

b$.$ Since the cost of the store's inventory items is increasing, Ellie will have a smaller cost of goods sold amount on a LIFO basis than on a FIFO basis.

c$.$ Ellie purchased more inventory during the year than she sold during the same $1-$year period.

d$.$ Ellie would have a higher net income if she used the FIFO method of inventory valuation instead of the LIFO method.