TB MC Qu. 7-96 (Static) For each of the following accounts, generally, ...

For each of the following accounts, generally, which inventory costing method most closely approximates the current cost

	Ending Inventory	Cost of Goods Sold
A)	FIFO	LIFO
B)	LIFO	LIFO
C)	FIFO	FIFO
D)	LIFO	FIFO

Option B

Option A

Option C

Option D