Which of the following statements is true for a company using the periodic inventory method?

A$.$ During periods of rising prices the FIFO inventory costing method will have a lower ending inventory

than the LIFO inventory costing method.

B$.$ Cost of Goods Sold is updated each time a sale of merchandise occurs.

C$.$ The weighted average cost inventory costing method assigns a higher cost per unit to cost of goods sold

than to items remaining in inventory.

D$.$ Loss is debited at the end of the accounting period to adjust for the difference in the general ledger

balance of inventory and the actual physical count of inventory.

E$.$ None of the above statements are true.