Which of the following statements about the LIFO and FIFO inventory accounting methods is least accurate （）
A. For purposes of inventory analysis, FIFO is preferred over LIFO.
B. FIFO cost of goods sold--LIFO cost of goods sold-change in LIFO reserve.
C. In periods of declining prices, LIFO debt-to-equity ratios are higher than FIFO debt-to-equity ratios.
参考答案：C
解析：
In periods of declining prices, LIFO inventory values will be higher, leading to higher asset and equity values and lower debt-to-equity ratios. FIFO inventory values are preferred because they better approximate replacement cost. FIFO COGS = LIFO COGS - change in LIFO reserve. COGS = purchases + beginning inventory - ending inventory, so there is a negative relation between COGS and misstatements of ending inventory.