In a periodic inventory system, the FIFO cost of goods sold is A) $4,952. B) $4,967. C) $4,993. D) $5,006. 29) LIFO's tax advantage is that: A) it provides a higher net income than FIFO during periods of rising prices and level inventory quantities. B) it provides a lower net income than FIFO during periods of rising prices and level inventory quantities. C) it provides a lower net income than FIFO during periods of falling prices and level inventory quantities. D) it provides a lower net income than FIFO during periods of rising prices and decreasing inventory quantities