ing 2.5 pts The main difference between the FIFO and LIFO inventory method of valuing inventory, assuming prices of inventory is rising, is that: Using FIFO, there will be no ending inventory on the balance sheet and lower taxable income on the Income Statement. O Using FIFO, there will be a lower ending inventory on the balance sheet and lower taxable income on the Income Statement. Using LIFO, there will be a higher ending inventory on the balance sheet and higher taxable income on the Income Statement. O Using LIFO, there will be a lower ending inventory on the balance sheet and lower taxable income on the Income Statement