How does the inventory accounting choice (LIFO/FIFO) impact a firm's valuation? Group of answer choices

a. The timing of cash flows are the same under both LIFO and FIFO

b. By changing the timing of cash flows, the firm's valuation is impacted

c. Has no impact on NOPAT

d. Deferring tax payments via LIFO accounting, decreases the the firm's value

e. All of the above