Which of the following is true when the cost for a company to purchase inventory is consistently increasing over time?

No mater which inventory method is used, the dollar value of ending inventory will be the same

The LIFO method will result in lower Cost of Goods Sold than the FIFO method

The LIFO method will result in higher gross margin than the FIFO method

The LIFO method will result in a lower dollar value of ending inventory than the FIFO method