Question 6 (5 points) Which of the following is false? The FIFO inventory method will result in the higher net income in comparison with the LIFO method when costs are increasing. During periods of increasing unit costs, the LIFO inventory method results in lower income taxes. Cost of Goods Available for Sale minus Ending Inventory equals Cost of Goods Sold. The LIFO inventory method allocates the oldest inventory purchase costs to cost of goods sold