Which of the following is a disadvantage of using the IFRS FIFO method, as compared to LIFO under U.S. GAAP?

a. Under FIFO, during periods of inflation, inventory costs matched against sales are greater than the inventory replacement cost.

b. When price levels increase and inventory quantities do not decrease, taxes are greater under FIFO

c. FIFO may cause poorer buying habits as management attempts to manipulate net income.

d. FIFO typically causes lower reported earnings.