QUESTION 34 Alpha Company uses FIFO and Beta Company uses LIFO for inventory valuation. Assume inflation (rising cost to purchase inventory). Which of the following is true when evaluating liquidity and profitability of the ftwo firms? Alpha will have higher cost of good sold, lower gross profit and lower ending inventory. Ob. Beta will have a higher cost of goods sold, lower gross profit, and higher ending inventory C. Alpha will have lower cost of goods sold, higher gross profit and higher ending inventory. d. Beta will have lower cost of goods sold, higher gross profit and lower ending inventory cost e Alpha will have lower cost of goods sold, higher gross profit and lower ending inventory