Which of the following statements about the last-in, first-out (LIFO) method in inflationary situations is true? a.The balance sheet will report the ending inventory at an amount that is almost the same at its current replacement cost. b.The LIFO method results in larger gross profits, which are called inventory profits, than the FIFO method. c.The LIFO method is practicable where transactions are less voluminous, and the prices of materials are descending. d.The LIFO method will yield a higher amount of cost of goods sold, a lower amount of gross profit, and a lower amount of inventory at the end of the period compared to the FIFO method.