a) The Fixed Charge Coverage Ratio (FCC) can never be greater than Times Interest Earned (TIE). True or False

b) My company uses LIFO to account for its inventory cost flow and it operates in an industry susceptible to typical inflationary pressures. At the end of the year, my inventory is valued on the balance sheet at $1,500,000 and my company's LIFO Reserve is $200,000. If my company used FIFO instead of LIFO, the value of its inventory at the end of the year would have been approximately $1,700,000. T or F