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Assume that Walgreens Company uses FIFO for inventory costing. During 2025, costs increased. Which statement is true concerning the amounts reported on Watgreens' batance sheet and incoine statement? The costs allocated to inventory on Walgreens' balance sheet may be understated in terms of current cost. The costs allocated to cost of goods sold on Walgreens' income statement will reflect the costs that inost closely approximate current costs. The costs allocated to inventory on Walgreens' balance sheet reflect inventories that approximate current costs. The costs allocated to cost of goods sold on Walgreens' income statement may be overstated in terms of current cost