QUESTION 4 8 points Save Answer Company A uses LIFO and Company B uses FIFO. Assume rising prices. In analyzing liquidity and profitability of the two firms, which of the following statements is true? Company B will have higher owners' equity. Company A will have lower cost of goods sold Company A will have higher liabilities. Company B will have lower income tax payments. It is impossible to say anything about the two firms since they use different inventory methods. QUESTION 9 During a period of falling prices, which inventory cost flow assumption will reflect the highest cost of ending inventory? LIFO. FIFO. Weighted average. Specific identification. None of the above