Oscillations of magnetoresistance and interlayer exchange coupling vs. both non-magnetic spacer and cap-layer thicknesses are studied within the framework of the s-d model. The studies are carried out by means of the Kubo formula and a Green function recursion technique. Transport calculations concern multilayers (sandwiched between two semi-infinite ideal lead wires) oriented either parallel or perpendicular to the current direction. The considered structures for the above mentioned two basic geometries, are cubic grains identical in: (i) size, (ii) number of sublayers, and (iii) thicknesses of particular sublayers, which makes it possible to compare, in a direct and reliable way, the corresponding magnetoresistances. The current-in-plane magnetoresistance is found to be usually lower than the current-perpendicular-to-plane one, but both of them show oscillatory behaviours mutually correlated, and related to the Fermi surface callipers. Moreover, the current-perpendicular-to-plane giant magnetoresistance for structures in a form of infinite in layer-plane trilayers capped with an extra bilayer (ferromagnet/paramagnet) is also discussed.