Identify the statement below concerning the LIFO inventory method that is untrue. Multiple Choice

A - In the absence of changes in costs, the results of using LIFO would be identical to those obtained by FIFO.

B- In periods of declining costs, cost of goods sold using LIFO will produce a lower cost of goods sold than FIFO.

C - The ending inventory under LIFO will tend to approximate replacement cost.

D - LIFO will provide a close matching of current revenues with current costs since the most recent costs are expensed first.