1. In a period of declining prices and stable or increasing inventory quantities, which of the following descriptions on the impact of LIFO and FIFO on financial statements (is) are true?
　　　　　　　　　　　　　　LIFO　　　　　FIFO
Ⅰ. Inventory　　　　　　　　 Higher　　　　　Lower
Ⅱ. Net income　　　　　　　　Higher　　　　　Lower
Ⅲ. Cash flow from operations　　Higher　　　　　Lower