In a situation of rising prices, profit and tax liability would be lower under method than under method of material issue pricing

Q. In a situation of rising prices, profit and tax liability would be lower under method than under method of material issue pricing

A.            FIFO; LIFO

B.            LIFO; FIFO

C.            LIFO; Average

D.            FIFO; Average

Answer: LIFO; FIFO