SAB Corp. is a manufacturing firm and predominately uses LIFO to value its inventories. During 2011, the firm's LIFO reserve decreased due to declining raw materials prices. The firm's LIFO reserve remains positive at the end of 2011. If SAB Corp. had used FIFO instead of LIFO to value its inventories over the life of the firm, which of the following would be true? a. Cost of goods sold during 2011 would be lower under FIFO O b. Retained earnings ending 2011 would be lower under FIFO c. Inventory book-value ending 2011 would be lower under FIFO O d. Earnings during 2011 would be lower under FIFO O e. None of the above is true