SOS

Question 3 During a period when inventory costs are steadily decreasing, which of the following is true? a. Cost of goods sold will be higher under LIFO than under FIFO. b. Ending inventory value will be higher under FIFO than under LIFO. O c. Net income will be higher under FIFO than under LIFO. O d. Income taxes will be lower under FIFO than under LIFO