Which of the following statements is true? (select one or more)

	a.	A FIFO advantage is the balance sheet inventory amount is more reflective of current replacement cost.
	b.	LIFO results in higher pre-tax earnings, which leads to higher tax payments.
	c.	If early LIFO inventory is liquidated then tax advantages of LIFO are lost and a larger than normal tax payment is required.
	d.	In times of rising prices, LIFO generally provides more cash from operations.