QUESTION 6 Answer the following as True or False, then select the correct multiple-choice answer --_The periodic inventory method requires an adjusting entry for a loss at the end of the period. In periods of declining prices, periodic FIFO will have a lower net income than periodic LIFO. The gross profit method of estimating inventory can be used as a substitute for a physical inventory count under the periodic inventory method. O A True True True B. False, False, False OC. True, True, False D. False, True, False E True False, False