Why would a company switch to the LIFO method of inventory valuation?

(a) By switching to LIFO, reported earnings will be higher.

(b) A new tax law requires companies using LIFO for reporting purposes also to use LIFO for figuring taxable income.

(c) LIFO produces the largest cost of goods sold expense in a period of inflation and thereby lowers taxable income and taxes.

(d) A survey by Accounting Trends and Techniques revealed that the switch to LIFO is a current accounting “fad.”