Which of the following statements is/are true?

a. In a period of rising costs and stable inventory levels, using the Lifo method leads to a lower taxable income and higher

net income compared to the FIFO method.

b. In a period of rising costs and stable inventory levels, the using the FIFO methods lead to a higher taxable income and higher net income compared to the LIFO method.

c. In a period of falling costs and stable inventory levels, cost of goods sold is the same under LIFO and FIFO.

d. All of the other answer choices are true.