问题如下：
Given in a period of falling prices, a firm reporting under LIFO, compared to FIFO, will have a higher:
选项：
A.cash in balance sheet
B.gross profit margin.
C.cost of goods sold.
解释：
B
Because of falling prices, LIFO COGS will include the cost of lower priced inventory and LIFO COGS will be less than FIFO COGS. So the firm would report a higher profit margin under LIFO than under FIFO, while FIFO inventory will be higher and inventory turnover lower. Higher profit margin under LIFO would result in higher taxes payable, thus lower cash in balance sheet.
老师，好：
LIFO的COGS低，profit高，就算tax扣的多点，也不能说明B/S的cash比FIFO的低啊。
