Which One of the Following Statements Is Not True

question 5

Multiple Choice

Which one of the following statements is not true?

• A)Under conditions of rising prices, the LIFO method results in lower income than the FIFO method.
• B)In most cases, the FIFO method approximates the physical flow of items in inventory.
• C)The LIFO method produces a higher ending inventory value than the FIFO method.
• D)The FIFO method includes holding gains in income.