Raylan Company and Boyd Company are two competing firms in a high$-$tech industry.

technological advancements, the purchase price for their products has steadily decreased over the last two

years. The inventory reported in Raylan Company's balance sheet is close to the current cost of $-$ FIFO

inventory, whereas Boyd's inventory is considerably above its current cost. $-$ LIFO

Which of the following statements are true?

A$.$ Raylan Company is using LIFO because its ending inventory is close to current cost.

B$.$ Boyd Company is using LIFO because its net income is lower.

C$.$ Raylan Company is using FIFO because its Cost of Goods Sold is higher.

D$.$ Boyd Company is using FIFO because its ending inventory is considerably above its current cost.