Layout IV Review ab Vies A A EE Heading 1 Emplaris One Normal 3. Compare the answers of the FIFO and LIFO above and then answer to the following question. In a period of rising prices like above questions, the use of which of the following cost flow methods would result in the lowest tax liability? Why? FIFO LIFO Weighted average cost Moving average cost d 4. In a period of rising prices, the use of which of the following cost flow methods would result in the lowest cost of goods sold? Why? FIFO LIFO Weighted average cost d. Moving average cost Layout IV Review ab Vies A A EE Heading 1 Emplaris One Normal 3. Compare the answers of the FIFO and LIFO above and then answer to the following question. In a period of rising prices like above questions, the use of which of the following cost flow methods would result in the lowest tax liability? Why? FIFO LIFO Weighted average cost Moving average cost d 4. In a period of rising prices, the use of which of the following cost flow methods would result in the lowest cost of goods sold? Why? FIFO LIFO Weighted average cost d. Moving average cost